Question: A bond that pays 11% interest compounded annually on a $1,000 face value will mature in 20 years. The interest rate is now 13%. What

A bond that pays 11% interest compounded annually on a $1,000 face value will mature in 20 years. The interest rate is now 13%. What should the bonds market price be? Round intermediate calculations to four decimal places. Round your answer to the nearest cent.

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