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ABC Corp. currently has a bond outstanding that provides 7.88 percent yield. The bond has a coupon rate of 6.23 percent paid semiannually and matures

ABC Corp. currently has a bond outstanding that provides 7.88 percent yield. The bond has a coupon rate of 6.23 percent paid semiannually and matures in 7 years. What is the fair price of the bond? Round to two decimal places.

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