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BOND VALUATION: The 5.7 percent bond of a firm has a face value of $1,000, a maturity of 22 years, semiannual interest payments, and a

BOND VALUATION:

The 5.7 percent bond of a firm has a face value of $1,000, a maturity of 22 years, semiannual interest payments, and a yield to maturity of 5.06 percent. What is the current market price of the bond?

Record your value with no dollar sign and two decimal places (round your value to the nearest cent)

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