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GOSSIP College has a bond outstanding with a coupon rate of 7.8 percent paid annually and 11 years to maturity. The yield to maturity on

GOSSIP College has a bond outstanding with a coupon rate of 7.8 percent paid annually and 11 years to maturity. The yield to maturity on this bond is 4.4 percent, and the bond has a par value of $1,000. What is the price of the bond?

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