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An investor identifies a 7.5% coupon bond that has a par value of $1,000 and 7 years remaining until maturity. If the bond's yield-to-maturity is

An investor identifies a 7.5% coupon bond that has a par value of $1,000 and 7 years remaining until maturity. If the bond's yield-to-maturity is 8.7%, what is its price? Assume the bond makes semi-annual coupon payments and enter your answer as a positive number rounded to the nearest penny.

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