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XYZ Inc. has a bond with the following characteristics: Par: $ 1 , 0 0 0 Time to maturity: 8 year Coupon Rate: 4 %

XYZ Inc. has a bond with the following characteristics:
Par: $1,000
Time to maturity: 8 year
Coupon Rate: 4%, semi-annual payments
Yield to maturity: 6%
Calculate the price of the bond. (Enter a positive value and round to 2 decimals)

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