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Company X just issued a 8-year bond. The coupon rate is 6.5% and the bond is making semiannual coupon payments. The bond has a par

Company X just issued a 8-year bond. The coupon rate is 6.5% and the bond is making semiannual coupon payments.

The bond has a par value of $1,000 and its YTM (yield to maturity) is 6.99%.

Please calculate the price of the bond.

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