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Capital Co. has a bond outstanding with a coupon rate of 5 percent and semiannual payments. The yield to maturity is 6 percent and the

Capital Co. has a bond outstanding with a coupon rate of 5 percent and semiannual payments. The yield to maturity is 6 percent and the bond matures in 20 years. What is the market price if the bond has a par value of $2,000?

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