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Mono's bonds were issued 15 years ago and will mature in 15 years. They have a 5% coupon paying interest two times a year. However,

Mono's bonds were issued 15 years ago and will mature in 15 years. They have a 5% coupon paying interest two times a year. However, their credit rating got better so Mono decided to have new bonds with a coupon of 3%. Both of them have a $1,000 par value. What are the first bonds worth today (the ones with 5%)?

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