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Knight, Inc. has issued a 3 year bond with a $1,000 par value and an annual coupon rate of 6 percent. The current market rate

Knight, Inc. has issued a 3 year bond with a $1,000 par value and an annual coupon rate of 6 percent. The current market rate of interest is 5 percent. What is the value of this bond if the coupon payments are made semiannually?

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