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You have just purchased a $ 1,000 par value bond for 7 years. The coupon rate for this bond is 6% per year, with interest

You have just purchased a $ 1,000 par value bond for 7 years. The coupon rate for this bond is 6% per year, with interest paid every 6 months (semiannually). If you expect to get a annual 11% rate of return on this bond, how much did you pay for it?

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