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Consider a 6minusyear corporate bond issued by Vandelay Industries. The bond has a face value of $1,000, and has an annual coupon rate of 6.8%.

Consider a 6minusyearcorporate bond issued by Vandelay Industries. The bond has a face value of$1,000, and has an annual coupon rate of6.8%. The yield to maturity of the bond is8.2%. What is the fair price for the bondtoday?

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