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Calculate the price of a five-year bond that has a coupon rate of 6.5 percent paid annually. The current market rate is 5.70 percent. (Round

Calculate the price of a five-year bond that has a coupon rate of 6.5 percent paid annually. The current market rate is 5.70 percent.(Round answer to 2 decimal places, e.g. 5,275.25.)

Price of bond$( )

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