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Suppose that you are considering investing in a 4 - year bond that has a face value of $ 1 , 0 0 0 and

Suppose that you are considering investing in a 4-year bond that has a face value of $1,000 and a coupon rate of 5.3%. d) Now suppose that 2 years have gone by since you bought the bond and that you have received the first two coupon payments. At this point, the market interest rate on similar bonds unexpectedly rises to 11% an interest rate of 11%, the price an investor is willing to pay for the bond is (Round your response to the nearest cent )

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