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Suppose Dan bought a bond with a 12 percent annual coupon, payable semiannually. Dan actually paid $ 1,080 for the bond. On the day Dan

Suppose Dan bought a bond with a 12 percent annual coupon, payable semiannually. Dan actually paid $ 1,080 for the bond. On the day Dan bought it, the next coupon is due in 3 months. What would be the bond's clean price?

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