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In 2009, you purchased a $1,000 par value corporate bond with an interest rate of 6 percent. Today, comparable bonds are paying 5.50 percent. What

In 2009, you purchased a $1,000 par value corporate bond with an interest rate of 6 percent. Today, comparable bonds are paying 5.50 percent.

What is the approximate dollar price for which you could sell your bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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