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Red Mountain, Inc. bonds have a face value of $ 1 , 0 0 0 . The bonds carry a 7 percent coupon, pay interest

Red Mountain, Inc. bonds have a face value of $1,000. The bonds carry a 7 percent coupon, pay interest semiannually, and mature in 20 years. What is the current price of these bonds if the yield to maturity is 6.82 percent?

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