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Suppose a seven-year, $1,000 bond with a 5.94% coupon rate and semiannual coupons is trading with a yield to maturity of 3.41%. B. If the

Suppose a seven-year, $1,000 bond with a 5.94% coupon rate and semiannual coupons is trading with a yield to maturity of 3.41%.

B. If the yield to maturity of the bond rises to 4.28% (APR with semiannual compounding), at what price will the bond trade?

B. If the yield to maturity of the bond rises to 4.28% (APR with semiannual compounding), at what price will the bond trade? The bond will trade for ?? (Round to two decimal places.)

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