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The Rumford Company issues 12-year bonds, with an annual coupon rate of 7.8%, but makes coupons payments semi-annually. Calculate the price per $1,000 face value

The Rumford Company issues 12-year bonds, with an annual coupon rate of 7.8%, but makes coupons payments semi-annually. Calculate the price per $1,000 face value using an interest rate of 12.1%. Answer to the nearest cent

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