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Today you purchase a bond with a par value of $ 1 , 0 0 0 that will make annual coupons of $ 5 3

Today you purchase a bond with a par value of $1,000 that will make annual coupons of $53 beginning next year. If the yield to maturity is 4.0% and the final coupon is received in 14 years, then what price do you pay today? (Round to the nearest cent)

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