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Problem 7-3 Bond valuation Nesmith Corporation's outstanding bonds have a $1,000 par value, a 9% semiannual coupon, 18 years to maturity, and an 11% YTM.

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Problem 7-3 Bond valuation Nesmith Corporation's outstanding bonds have a $1,000 par value, a 9% semiannual coupon, 18 years to maturity, and an 11% YTM. what is the bond's price? Round your answer to the nearest cent

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