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You are considering the purchase of a $1,000 par value bond with a coupon rate of 6.3% (with interest paid semianmually) that matures in 12

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You are considering the purchase of a $1,000 par value bond with a coupon rate of 6.3% (with interest paid semianmually) that matures in 12 years. If the bond is priced to yield 8%, What is the bond's current price? The bond's current price is : (Round to the nearest cent.)

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