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The U.S. Treasury has issued bonds that mature 11 years from now. The face value of each bond is $1,000 and the bonds trade at

The U.S. Treasury has issued bonds that mature 11 years from now. The face value of each bond is $1,000 and the bonds trade at a yield to maturity of 3,1 percent. The bond does not pay a coupon payment. What is the price of the bond?

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