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Assume a $ 1,000 face value bond has a coupon rate of 7.2 percent paid semiannually and has an eight-year life. What is the value

Assume a $ 1,000 face value bond has a coupon rate of 7.2 percent paid semiannually and has an eight-year life.

What is the value of the bond if investors wanted an 6.7-percent rate of return? (Round final answer to nearest dollar amount.)

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