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You are analyzing a corporate bond with the following characteristics. It has a $20,000 face value, three years to maturity, carries a 2% coupon (paid

You are analyzing a corporate bond with the following characteristics. It has a $20,000 face value, three years to maturity, carries a 2% coupon (paid annually) and has a yield to maturity of 4%. What is the market price of the bond? Use Present Value Interest Factor Tables in solving this question.

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