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You work for a college athletic department and are in charge of making investments with excess capital. One possible investment is a bond that has

You work for a college athletic department and are in charge of making investments with excess capital. One possible investment is a bond that has annual coupon payments of $26.60. The bond's coupon rate is 4.75%, and the bond will pay off in 10 years. What is the face value (i.e., par value) of the bond?

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