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Bond Valuation. Mark has a Treasury bond that has a par value of $ 3 0 , 0 0 0 and a coupon rate of

Bond Valuation. Mark has a Treasury bond that has a par value of $30,000 and a coupon rate of 7%. The bond has 19 years to maturity. Mark needs to sell the bond and new bonds are currently carrying coupon rates of 3%. For what price should Mark sell the bond in this situation?
Mark should sell the bond for $
(Round to the nearest cent.
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