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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. Par Value $3,000

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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. Par Value $3,000 Bond Rate Payable Semi-Annually 8.5% Time Before Maturity 5 years Yield Rate 9% Conversion Period semi-annually The purchase price of the bond is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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