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Suppose a new issue par $1,000 bond is issued with a semi-annual coupon payment of 12.65% and 7 years to maturity when interest rates are

Suppose a new issue par $1,000 bond is issued with a semi-annual coupon payment of 12.65% and 7 years to maturity when interest rates are 12.65%. If interest rates fall 225 basis points, what is the new bond price?

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