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You have just purchased a 10-year, $1,000 par value bond. The coupon rate on this bond is 6%, with interest being paid semi-annually. If you

You have just purchased a 10-year, $1,000 par value bond. The coupon rate on this bond is 6%, with interest being paid semi-annually. If you expect a 5% rate of return on this bond, how much did you pay for it? Show your calculator or Excel inputs for partial credit opportunities.

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