Question: As with most bonds, consider a bond with a face value of $1,000. The bond's maturity is 21 years, the coupon rate is 9% paid

As with most bonds, consider a bond with a face value of $1,000. The bond's maturity is 21 years, the coupon rate is 9% paid semiannually, and the discount rate is 7%. What is the estimated value of this bond today?

Enter your answer in dollars, rounded to the nearest cent.

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