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Union Local School District has bonds outstanding with a coupon rate of 2 . 9 percent paid semiannually and 1 6 years to maturity. The

Union Local School District has bonds outstanding with a coupon rate of 2.9 percent paid semiannually and 16 years to maturity. The yield to maturity on these bonds is 2.7 percent and the bonds have a par value of $5,000. What is the dollar price of the bonds?

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