Question: A bond has $ 1 4 0 0 0 face value and its coupon rate is 1 8 , 4 % ( APR ) .

A bond has $ 14000 face value and its coupon rate is 18,4%(APR). The YTM of bonds with similar risks is 16.9%. Coupon is paid on an annual basis at the end of each years. The maturity of this bond is 3 years. What is the fair price of this bond?Give the answer in round number without currency sign, e. g. if the answer is $ 1546.46 than write 1546)

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