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Suppose a new issue par $1,000 bond is issued with a quarterly coupon payment of 7.12% and 10 years to maturity when interest rates are

Suppose a new issue par $1,000 bond is issued with a quarterly coupon payment of 7.12% and 10 years to maturity when interest rates are 7.12%. If interest rates fall by 62 basis points, what is the new bond price?

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