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Consider a 3-year bond with annual payments, the principal payment of $100 at maturity, and the coupon rate of 7.0%. The yield to maturity on

Consider a 3-year bond with annual payments, the principal payment of $100 at maturity, and the coupon rate of 7.0%. The yield to maturity on this bond is quoted at 6.26%. What is the current price of the bond?

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