Question: A $10,817 par value bond whose coupon rate is 3.9% is purchased. If the investment represents a current yield of 4.7%, compute the bond's market

A $10,817 par value bond whose coupon rate is 3.9% is purchased. If the investment represents a current yield of 4.7%, compute the bond's market price at the time of the purchase.

Round your answer to the nearest dollar.

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