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Twelve years ago, The Broadside Company issued bonds that pay annual coupons, have a face value of $1,000, have a coupon rate of 7.80%, and
Twelve years ago, The Broadside Company issued bonds that pay annual coupons, have a face value of $1,000, have a coupon rate of 7.80%, and were scheduled to mature 18 years after being issued. One year ago, you bought one of those bonds. The bond just paid a coupon and is currently priced at $1,084. If the percentage return on your bond was 5.46% over the past year (from 1 year ago to today), what was the price of the bond 1 year ago?
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