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AAA Corporation recently issues noncallable bonds that mature in 1 5 years. They have a par value of $ 1 , 0 0 0 and

AAA Corporation recently issues noncallable bonds that mature in 15 years. They have a par value of $1,000 and annual coupon rate of 5.7%. If the current market interest rate is 7.0%, at what price should the bonds sell? Hint: find PV.
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