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M. Poirot wishes to sell a bond that has a face value of $1,000. The...

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Accounting

M. Poirot wishes to sell a bond that has a face value of $1,000. The bond bears an interest rate of 10.47% with bond interest payable semiannually. Six years ago, $856 was paid for the bond. At least a 12% return (yield) on the investment is desired. The minimum selling price must be:

Enter your answer as follow: 1234.56

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