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Your broker offers to sell for $1,200 a AAA-rated bond with a coupon rate of 6 percent and a maturity of seven years, Glven that

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Your broker offers to sell for $1,200 a AAA-rated bond with a coupon rate of 6 percent and a maturity of seven years, Glven that che interest rate on comparable debt is 3 percent, calculate the bond's price. Assume that the bond pays interest annually. Use Append x B and Appendix D to answer the question. Round your answer to the nearest dollar

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