Question: 4 points A 8% coupon bond has a par value of $1,000 and 16 years remaining until maturity. Coupons are paid semi-annually. If the bond's

4 points A 8% coupon bond has a par value of

4 points A 8% coupon bond has a par value of $1,000 and 16 years remaining until maturity. Coupons are paid semi-annually. If the bond's yield-to-maturity is 4.8%, what is price? Enter your answer as a positive number rounded to the nearest penny

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