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Company XYZ's 15year bonds have an annual coupon rate of 9.5%. Each bond has face value of $1,000 and makes semi-annual interest payments. If you

Company XYZ's 15year bonds have an annual coupon rate of 9.5%. Each bond has face value of $1,000 and makes semi-annual interest payments. If you require an 11% nominal yield-to-maturity on this investment, what is the maximum price you should be willing to pay for the bond?

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