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Microhard has issued a bond with the following characteristics:Par: $1,000 Time to maturity:20 years Coupon rate:8 percent Semiannual payments Calculate the price of this bond

Microhard has issued a bond with the following characteristics:Par: $1,000 Time to maturity:20 years Coupon rate:8 percent

Semiannual payments

Calculate the price of this bond if the YTM is

(Do not round intermediate calculations and round your answersto 2 decimal places, e.g., 32.16.):

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