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Moerdyk Corporation's bonds have a 1 0 - year maturity, a 4 . 5 0 % semiannual coupon, and a par value of $

Moerdyk Corporation's bonds have a $10 -$ year maturity, a $4.50 %$ semiannual coupon, and a par value of $ $1, 000 .$ The going interest rate $(rd )$ is $3.50 %,$ based on

semiannual compounding. What is the bond's price?

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