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Yan Yan Corp. has a $3,000 par value bond outstanding with a coupon rate of 4.8 percent paid semiannually and 19 years to maturity. The

Yan Yan Corp. has a $3,000 par value bond outstanding with a coupon rate of 4.8 percent paid semiannually and 19 years to maturity. The yield to maturity on this bond is 4.9 percent.

What is the price of the bond?

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