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Lockheed Martin has a bond outstanding with an A- rating, $1,000 par value and 4.7% coupon rate, paid annually. This bond was issued in 2015

Lockheed Martin has a bond outstanding with an A- rating, $1,000 par value and 4.7% coupon rate, paid annually. This bond was issued in 2015 and matures in 2046. If the current market rate is 4.971%, what is the price of the bond? Use the same information, but assume the coupon rate is paid semi-annually. Calculate the price of the bond.

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