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Wine and Roses, Inc., offers a bond with a coupon of 7.0 percent with semiannual payments and a yield to maturity of 7.89 percent. The

Wine and Roses, Inc., offers a bond with a coupon of 7.0 percent with semiannual payments and a yield to maturity of 7.89 percent. The bonds mature in 9 years. What is the market price of a $1,000 face value bond?

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