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In December 2020, Treasury 4 1/4s of 2040 offered a semiannuallycompounded yield to maturity of 1.32%. Recognizing that coupons arepaid semiannually, calculate the bond's price.

In December 2020, Treasury 4 1/4s of 2040 offered a semiannuallycompounded yield to maturity of 1.32%. Recognizing that coupons arepaid semiannually, calculate the bond's price. Assume face value is 1 answer

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