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Your grandfather purchased a $1,000 face-value bond 10 years ago. When he purchased the bond, it had 30 years to maturity and a coupon rate

Your grandfather purchased a $1,000 face-value bond 10 years ago. When he purchased the bond, it had 30 years to maturity and a coupon rate of 7% paid annually. Now you want to sell the bond and read that the yield on similar bonds is 3.45%. What can you sell the bond for today?

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