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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. table [
Determine the purchase price at the indicated time before maturity of the following bond redeemed at par shown in the table below.
tablePar Value,Bond Rate,Time Before Redemption,Yield Rate,Conversion Period$ years,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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