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The DJ Company issued a 12-year semi-annual pay bond 2 years ago. The face value of the bond is $1,100 and the coupon rate is

The DJ Company issued a 12-year semi-annual pay bond 2 years ago. The face value of the bond is $1,100 and the coupon rate is 4%. The current market rate (annual APR) on comparable bonds is 5%. Calculate the bond's current price.

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