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The Basic Point Company has a bond outstanding with a face value of 1000 that reaches maturity in 15 years. The bond certificate indicates that

The Basic Point Company has a bond outstanding with a face value of 1000 that reaches maturity in 15 years. The bond certificate indicates that the stated coupon rate for this bond is 8% and that the coupon payments are to be made semi-annually. Assuming the appropriate YTM on the Basic Point bond is 8.8%, then at what price should this bond trade for?

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