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Schermer, Inc. just issued a $5000 par value bond. The bond, which matures exactly 8 years from today, has a coupon rate of 5.93%

Schermer, Inc. just issued a $5000 par value bond. The bond, which matures exactly 8 years from today, has a coupon rate of 5.93% (semi-annual payments). If the ppropriate yield to maturity for this bond is 5.75%, what is the current price of the chermer, Inc. bond?

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