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Find the value of a bond maturing in 12years, with a $1,000 par value and a coupon interest rate of 8% (4%paid semiannually) if the

Find the value of a bond maturing in 12years, with a $1,000 par value and a coupon interest rate of 8% (4%paid semiannually) if the required return on similar-risk bonds is 12% annual interest (6% paid semiannually).

The present value of the bond is $?? (Round to the nearest cent.)

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