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Twelve months aga a $1,000 face value, 6% coupon bond was selling for $1,100. Since...

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Finance

Twelve months aga a $1,000 face value, 6% coupon bond was selling for $1,100. Since then, the market yield has decreased by two percentage points. The bond pays interest semiannually and now has four years to maturity. What is the bond's price today?

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