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Five years ago, Jim's and Joes Inc., sold an issue of 12-year $1000 per bonds to finance a number of new film projects. The bonds

Five years ago, Jim's and Joes Inc., sold an issue of 12-year $1000 per bonds to finance a number of new film projects. The bonds pay 6.85% interest, semi-annually rated bonds is 4.96%. How much should these bonds sell for today?

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