Question: A $1,000 par value bond with 9% coupons payable semiannually is purchased for $1,300. The yield to the purchaser is 6%, convertible semiannually. If the

A $1,000 par value bond with 9% coupons payable semiannually is purchased for $1,300. The yield to the purchaser is 6%, convertible semiannually. If the same bond were redeemable at 120% of par, what price would have been paid to obtain the same yield? (Answer to nearest $10.)

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