Question: bond with 22 years until maturity has a coupon rate of 7.8 percent and a yield to maturity of 8 percent. What is the price

bond with 22 years until maturity has a coupon rate of 7.8 percent and a yield to maturity of 8 percent. What is the price of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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