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Problem 7-11 Valuing Bonds [L02] Union Local School District has a bond outstanding with a coupon rate of 3.3 percent paid semiannually and 15 years

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Problem 7-11 Valuing Bonds [L02] Union Local School District has a bond outstanding with a coupon rate of 3.3 percent paid semiannually and 15 years to maturity. The yield to maturity on this bond is 3.8 percent, and the bond has a par value of $10,000 What is the price of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places,e.g., 32.16) Price

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