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An investor purchases a Tesla bond for $1,200 ($1,000 principal, paid semi-annually, maturity of 6 years, 6.5% coupon rate). What is the new price of

An investor purchases a Tesla bond for $1,200 ($1,000 principal, paid semi-annually, maturity of 6 years, 6.5% coupon rate). What is the new price of the bond if the yield-to-maturity of the bond goes down 1.0%? Still assume 6 years until maturity.

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