A fixed-income analyst, Lexi, observes an 8-year, 4.81% semiannual-pay bond. Its face value is 1,000. She believes

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A fixed-income analyst, Lexi, observes an 8-year, 4.81% semiannual-pay bond. Its face value is ¥1,000. She believes that yield-to-maturity (YTM) on a semiannual bond basis should be 11.73%. Based on this yield estimate, calculate the price of this bond.