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You bought a 16-year, 5% semi-annual coupon bond today and the current market rate of return is 6.7%. The bond is callable in 4 years

You bought a 16-year, 5% semi-annual coupon bond today and the current market rate of return is 6.7%. The bond is callable in 4 years with a $1077 call premium. What price did you pay for your bond?

(please show work/formula used)

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