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King Corporation has a 9-year 6.5% coupon bond, and a par value of $1,000. The market interest rate is 7%. The coupons are paid semiannually.

King Corporation has a 9-year 6.5% coupon bond, and a par value of $1,000. The market interest rate is 7%. The coupons are paid semiannually. What is the bond's price? Demonstrate your calculation by providing the input values and calculated result

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