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On May 22, 2010, GE issued a 15-year, 6% coupon bond that pays interest semi- annually. The bond has a face value of $1,000. The

On May 22, 2010, GE issued a 15-year, 6% coupon bond that pays interest semi- annually. The bond has a face value of $1,000. The market interest rate at the time of issuance was 6.25% compounded semi-annually. What was the price of bond when it was issued?

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