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Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of $ 1,000 and a coupon rate of

Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of $ 1,000 and a coupon rate of 7.3 % (annual payments). The yield to maturity on this bond when it was issued was 6.2 %. What was the price of this bond when it was issued?

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