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You are considering a 1 0 - year, $ 1 , 0 0 0 par value bond. Its coupon rate is 8 % , and

You are considering a 10-year, $1,000 par value bond. Its coupon rate is 8%, and interest is paid semiannually. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.
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If you require an "effective" annual interest rate (not a nominal rate) of 7.67%, how much should you be willing to pay for the bond? Do not round intermediate steps. Round your answer to the nearest cent.

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