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Calculate the price of the following bond: FV=$1,000; coupon rate =7 percent, paid semi-annually: market rate =6 percent; term to maturity = 11 years. (Round

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Calculate the price of the following bond: FV=$1,000; coupon rate =7 percent, paid semi-annually: market rate =6 percent; term to maturity = 11 years. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answer to 2 decimal places e.g. 1,289.71.)

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