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You have the opportunity to purchase a 3 0 - year, $ 1 , 0 0 0 par value bond that has an annual coupon

You have the opportunity to purchase a 30-year, $1,000 par value bond that has an annual coupon rate of 6%. If you require a YTM of 7.7%, how much is the bond worth to you?
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Part 1
The price of the bond is $
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