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Red Ribbon Army bonds have a 15-year maturity, a 4.98% coupon, and a par value of $1,000. The going interest rate (rd) is 5.48%. Assuming
Red Ribbon Army bonds have a 15-year maturity, a 4.98% coupon, and a par value of $1,000. The going interest rate (rd) is 5.48%. Assuming semiannual compounding, what is the bond's price? Round to two decimal places (Ex. $000.00)
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