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consider a bond ( which originally sold at its face of 1 , 0 0 0 dollars ) , a 9 . 5 0 %

consider a bond (which originally sold at its face of 1,000 dollars), a 9.50% coupon (paid semi-annually), and an original maturity of 30 years. It is now 11 years later and the yield to maturity has dropped by 200 basis points. What is the price of the bond today?

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