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Joy purchased a newly issued 5-year bond that pays semi-annual coupons at a 6% annual rate. The bond can be called at its par value

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Joy purchased a newly issued 5-year bond that pays semi-annual coupons at a 6% annual rate. The bond can be called at its par value of 1000 on any coupon date, starting at the end of year 4. Based on the price Joy paid for the bond, it will yield at least 4.7% convertible semi-annually. How much did Joy pay for the bond

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