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Jeremy Kohn is planning to invest in a 10 -year bond that pays a 12 percent coupon. The current market rate for similar bonds is

Jeremy Kohn is planning to invest in a 10 -year bond that pays a 12 percent coupon. The current market rate for similar bonds is 11.4 percent. Assume semiannual coupon payments. What is the price of this bond? (Do not round intermediate computations. Round your final answer to the nearest dollar.) $951 $894 $1,035 $1,195

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