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Chesterton, Inc. wants to sell you a 5.5 percent annual coupon bond that makes semiannual payments. Your required return on the bond is 6.32 percent

Chesterton, Inc. wants to sell you a 5.5 percent annual coupon bond that makes semiannual payments. Your required return on the bond is 6.32 percent annually with semi-annual compounding, and the bond matures in 11 years. How much would you pay for the bond given a $1,000 face value?

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