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The Ivanhoe Department of Transportation has issued 2 5 - year bonds that make semiannual coupon payments at a rate of 1 0 . 0

The Ivanhoe Department of Transportation has issued 25-year bonds that make semiannual coupon payments at a rate of 10.075 percent. The current market rate for similar securities is 11.30 percent. Assume that the face value of the bond is $1000.
What will be the bond's price if the rates in the market (i) decrease to 9.30 percent or (ii) increase to 12.3 percent? Round answers to 2 decinmal places.
Decrease to 9.30 percent = $?
Increase to 12.3 percent = $?

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