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Moerdyk Corporation's bonds have a 15-year maturity, a 7.25% annual coupon, and a par value of $1,000. The going interest rate (r d) is 8.20%,

Moerdyk Corporation's bonds have a 15-year maturity, a 7.25% annual coupon, and a par value of $1,000. The going interest rate (r d) is 8.20%, based on semiannual compounding. What is the bonds price?

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