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Determine the purchase price at the indicated time before maturity of the following bond redeemed at par shown in the table below Bond Rate Payable

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Determine the purchase price at the indicated time before maturity of the following bond redeemed at par shown in the table below Bond Rate Payable Par Value Time Before Maturity Yield Rate Semi-Annually Conversion Period $8,000 9% 12 years 9.5% semi-annually The purchase price of the bond is $0 (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed.)

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