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Geico Corp. currently has a AA rated corporate bond outstanding, with a coupon rate of 5.35%, paid semi-annually, due to mature in three years at

Geico Corp. currently has a AA rated corporate bond outstanding, with a coupon rate of 5.35%, paid semi-annually, due to mature in three years at a par value of $1,000. If the bonds required rate of return (or yield to maturity) is 3.48%, at what price is this bond expected to sell?

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