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Union Local School district has bonds outstanding with a coupon rate of 3.7 percent paid semi annually and 16 years to maturity. The yield to

Union Local School district has bonds outstanding with a coupon rate

of 3.7 percent paid semi annually and 16 years to maturity. The yield to maturity of the

bond is 3.9 percent, and the bond have a par value of $5,000. What is the dollar price of the bond ?

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