Question: 5. Problem 7.03 (Bond Valuation) eBook Problem Walk-Through Nesmith Corporation's outstanding bonds have a $1,000 par value, an 7% semiannual coupon, 9 years to maturity,

5. Problem 7.03 (Bond Valuation) eBook Problem Walk-Through Nesmith Corporation's outstanding

5. Problem 7.03 (Bond Valuation) eBook Problem Walk-Through Nesmith Corporation's outstanding bonds have a $1,000 par value, an 7% semiannual coupon, 9 years to maturity, and an 8% YTM. What is the bond's price? Round your answer to the nearest cent

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