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Marco Chip, Inc. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 14 years and a yield to

Marco Chip, Inc. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 14 years and a yield to maturity of 7.11 percent, compounded semi-annually. What is the current price of the bond?

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