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Caterpillar's 5.4% coupon bonds have a par value of $1,000 and 19 years remaining until maturity. If the bond's yield-to-maturity according to Bloomberg is 11.0%,
Caterpillar's 5.4% coupon bonds have a par value of $1,000 and 19 years remaining until maturity. If the bond's yield-to-maturity according to Bloomberg is 11.0%, what is its price? Assume the bond makes semi-annual coupon payments and enter your answer as a positive number rounded to the nearest penny
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