Question: Devine Divots issued a bond a few years ago. The bond has a face value equal to $1,000 and pays investors $80 interest every six

Devine Divots issued a bond a few years ago. The bond has a face value equal to $1,000 and pays investors $80 interest every six months. The bond has 7 years remaining until maturity. If an investor requires a yearly 6 percent rate of return to invest in this bond, what is the maximum price the investor should be willing to pay to purchase the bond?

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