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esook Problem Walk - Through Nesmith Corporation's outstanding bonds have a $ 1 , 0 0 0 par value, an 8 % semiannual coupon, 1

esook

Problem Walk

-

Through

Nesmith Corporation's outstanding bonds have a $

1, 000

par value, an

8 %

semiannual coupon,

13

years to maturity, and a

10 %

YTM

.

What is the bond's price? Round your answer to the nearest cent.

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