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Tristan Sandino wants to sell a 4.85%, $1,000 bond that pays annual dividends. The bond matures in 7 years. Prevailing rates on similar bonds is

Tristan Sandino wants to sell a 4.85%, $1,000 bond that pays annual dividends. The bond matures in 7 years. Prevailing rates on similar bonds is 5.5%. What is Tristan's bond worth today?

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