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You would like to purchase a bond, your required rate of return is 8.5%. You find a bond paying a 8.25% coupon rate, that matures

You would like to purchase a bond, your required rate of return is 8.5%. You find a bond paying a 8.25% coupon rate, that matures in 12 years, and pays semi-annual coupon rates. How much are you willing to pay for this bond, if you will get $1,000 at maturity.

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