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Union Local School District has bonds outstanding with a coupon rate of 4.9 percent paid semiannually and 20 years to maturity. The yield to maturity

Union Local School District has bonds outstanding with a coupon rate of 4.9 percent paid semiannually and 20 years to maturity. The yield to maturity on these bonds is 5.6 percent and the bonds have a par value of $10,000.

What is the dollar price of the bond?

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