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UTT Corporation's bonds have a 1 5 - year maturity, a 7 . 2 5 % annual coupon rate, and a par value of $

UTT Corporation's bonds have a 15-year maturity, a 7.25% annual coupon rate, and a par value of $1,000. The discount rate is 7.50%, based on semiannual compounding. What is the bond's price? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g.,32.16)
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