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ABC In. issued 20-year bonds seven years ago at a coupon rate of 7.4%. The bonds make semiannual payments. If the YTM on these bonds

ABC In. issued 20-year bonds seven years ago at a coupon rate of 7.4%. The bonds make semiannual payments. If the YTM on these bonds is 5.7%, what is the current bond price? (Do not round intermediate calculations. Show steps. Show steps. Round the final answer to 2 decimal places.

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