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Microsoft Corporation issued bonds with a face value of $1,000, a coupon rate of 6%, and a maturity period of 15 years. The prevailing market

Microsoft Corporation issued bonds with a face value of $1,000, a coupon rate of 6%, and a maturity period of 15 years. The prevailing market interest rate for similar bonds is 5%. Calculate the bond's current market price and explain the significance of the result for potential investors.

                 

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