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What is the value of a 12-year, 6.9% coupon rate, $1,000 face value bond with annual coupon payments, if similar bonds (same maturity, same risk
What is the value of a 12-year, 6.9% coupon rate, $1,000 face value bond with annual coupon payments, if similar bonds (same maturity, same risk profile) are trading at a yield to maturity of 4.4%? Round to the nearest cent.
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