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NMSU in conjunction with DACC has outstanding bonds that have a maturity of 15 years, the semiannual coupon rate is 12%, with a 9.5% YTM,

NMSU in conjunction with DACC has outstanding bonds that have a maturity of 15 years, the semiannual coupon rate is 12%, with a 9.5% YTM, and have a $1,000 par value to them. What is the price of DACC's bond? (Show your calculations)

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