Question: POZ Inc. is issuing bonds to finance a new project in Michigan. These bonds are being offered with a face value of $1000, a coupon

POZ Inc. is issuing bonds to finance a new project in Michigan. These bonds are being offered with a face value of $1000, a coupon rate of 5% per year (paid semiannually), and a maturity of 19 years. Find the pure price of each bond if the current market interest rate for similar financial assets is 6% per year (compounded semiannually).

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