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Mark has a Treasury bond with a par value of $20,000 and a coupon rate of 6%. The bond has 10 years to maturity. Mark

Mark has a Treasury bond with a par value of

$20,000

and a coupon rate of

6%.

The bond has

10

years to maturity. Mark needs to sell the bond and new bonds are currently carrying coupon rates of

5%.

At what price should Mark sell the bond?

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