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Union Local School District has a bond outstanding with a coupon rate of 3.7% paid semiannually and 16years to maturity. The yield to maturity on

Union Local School District has a bond outstanding with a coupon rate of 3.7% paid semiannually and 16years to maturity. The yield to maturity on this bond is 3.9%, and the bond has a par value of $5,000. What is hte price of the bond?

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