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Rare Find Inc. has a bond with the following characteristics: Par: $ 1 , 0 0 0 Time to maturity: 1 0 years Coupon Rate:

Rare Find Inc. has a bond with the following characteristics:

Par: $

1, 000

Time to maturity:

10

years

Coupon Rate:

7 %,

semi

-

annual payments

Yield to maturity:

4 %

Calculate the price of the bond.

(

Enter a positive value and round to

2

decimals

)

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