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Westco Company issued 1 3 - year bonds one year ago at a coupon rate of 7 percent. The bonds make semiannual payments and have

Westco Company issued

13 -

year bonds one year ago at a coupon rate of

7

percent. The bonds make semiannual payments and have a par value of $

1, 000 .

If the YTM on these bonds is

5.3

percent, what is the current price of the bond in dollars?

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