Question: A bond with a $10,000 par value has a 6.35% coupon rate. It will mature in 9 years and coupon payments are made semi annually.

A bond with a $10,000 par value has a 6.35% coupon rate. It will mature in 9 years and coupon payments are made "semi annually". Present yields on similar bonds (required rate) are 6.56%. What should the current price be

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