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Sue purchased a 10 -year par value bond with semiannual coupons at a nominal annual rate of 5% convertible semiannually at a price of $1019.35.

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Sue purchased a 10 -year par value bond with semiannual coupons at a nominal annual rate of 5% convertible semiannually at a price of $1019.35. The bond can be semiannually of a least 12%. Calculate X. Par value of bond, X=$

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