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Union Local School Distract has bonds outstanding with a coupon rate of 3.5% paid semiannually and 13 years to maturity. The yield to maturity on

Union Local School Distract has bonds outstanding with a coupon rate of 3.5% paid semiannually and 13 years to maturity. The yield to maturity on these bonds is 2.5% and the bonds have a par value of $10,000. What is the price of the bonds?

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