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In November 2 0 2 0 , Treasury 4 3 / 8 s of 2 0 4 0 offered a semiannually compounded yield to maturity

In November 2020, Treasury 43/8s of 2040 offered a semiannually compounded yield to maturity of 2.78%. Recognizing that coupons are paid semiannually, calculate the bond's price. Assume face value is $1,000.

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