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Company X issues a 3 - year bond with $ 1 , 0 0 0 par value and a 7 % coupon rate that is

Company X issues a 3-year bond with $1,000 par value and a 7% coupon rate that is paid annually. If the investor expects a 5% return for similar corporate bonds with the same maturity, what is the price that the investor is willing to pay for this bond?

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