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The one - two - and three - year spot interest rates are 4 . 2 5 % , 5 . 0 0 % ,

The one- two- and three- year spot interest rates are 4.25%,5.00%, and 5.25% respectively. What is the price of a 3-year annual coupon bond with a $1,000 face value and a coupon rate of 4.5%?

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