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Bell Canada issues a 20 year bond with 3% coupon rate (paid semi-annually.) Other similar Bell Canada bonds a yield of 3.6%. (These bonds are

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Bell Canada issues a 20 year bond with 3% coupon rate (paid semi-annually.) Other similar Bell Canada bonds a yield of 3.6%. (These bonds are quoted on a "bond equivalent yield" basis, i.e. compounded semi-annually.) The bond has a face value of $1000. What is the fair market value of the bond? (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.) Numeric Response

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