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Moody's Corporation's bonds have a 15-year maturity, a 7.25% coupon paid semiannually, and a par value of $1,000. If the going market interest rate for

Moody's Corporation's bonds have a 15-year maturity, a 7.25% coupon paid semiannually, and a par value of $1,000. If the going market interest rate for bonds of similar risk and maturity is 6.00% (based on semiannual compounding), what is the bond's price?
Your answer should be between 1075.00 and 1275.00.

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