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Problem Walk-Through Nesmith Corporation's outstanding bonds have a $1,000 par value, an 11% semiannual coupon, 20 years to maturity, and a 13% YTM. What

Problem Walk-Through Nesmith Corporation's outstanding bonds have a $1,000 par value, an 11% semiannual coupon, 20 years to maturity, and a 13% YTM. What is the bond's price? Round your answer to the nearest cent.

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