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Union Local School District has bonds outstanding with a coupon rate of 3 . 2 percent paid semiannually and 2 1 years to maturity. The

Union Local School District has bonds
outstanding with a coupon rate of 3.2
percent paid semiannually and 21 years to maturity. The yield to maturity on
these bonds is 3.5 percent and the bonds have a par value of $5,000. What is
the dollar price of the bonds?
Note: Do not round intermediate calculations and round your answer to 2
decimal places, e.g.,32.16.
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