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You buy a 20-year bond with an annual coupon rate of $75. The going interest rate for similar bonds is currently 8%. What would you

You buy a 20-year bond with an annual coupon rate of $75. The going interest rate for similar bonds is currently 8%. What would you expect to pay for this bond? (State answer as number rounded to the nearest two decimal places with no signs or symbols - e.g., 852.43 not $852.427)

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