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. Leggio Corporation issued 25-year, 7.25% semiannual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these

. Leggio Corporation issued 25-year, 7.25% semiannual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds has dropped to 7%. What is the new price of the bonds, given that they now have 24 years to maturity? (4 points)

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