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Problem 7 . 0 3 ( Bond Valuation ) Nesmith Corporation's outstanding bonds have a $ 1 , 0 0 0 par value, a 1

Problem 7.03(Bond Valuation)
Nesmith Corporation's outstanding bonds have a $1,000 par value, a 10% semiannual coupon, 12 years to maturity, and a 12% YTM. What is the bond's price? Round your answer to the nearest cent.
$
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