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Suppose you just purchased a 7 year, $1,000 par value bond. The coupon rate on this bond is 9% annually, with interest being paid semi-annually.

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Suppose you just purchased a 7 year, $1,000 par value bond. The coupon rate on this bond is 9% annually, with interest being paid semi-annually. If you expect to earn a 9% rate of return on this bond, how much did you pay for it? (Round your answer to two decimal point) D

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