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An investment company is offering Verizon bonds that will mature in 10 years. The bonds have a par value of $1,000 and annual coupon rate

An investment company is offering Verizon bonds that will mature in 10 years. The bonds have a par value of $1,000 and annual coupon rate of 8%. The market requires an interest rate of 6.5% on these bonds. What is the asking price for these bonds?

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