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Company XYZ has a bond outstanding with a face value of $1000 that reaches maturity in 20 years. The bond certificate indicates that the stated

  1. Company XYZ has a bond outstanding with a face value of $1000 that reaches maturity in 20 years. The bond certificate indicates that the stated coupon rate for this bond is 6% and that the coupon payments are to be made semiannually.

Assuming the appropriate YTM on this bond is 7.0% then the price at which this bond trades will be closest to

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