Question: Suppose a seven - year, $ 1 , 0 0 0 bond with an 8 . 4 % coupon rate and semiannual coupons is trading

Suppose a seven-year, $ 1,000 bond with an 8.4% coupon rate and semiannual coupons is trading with a yield to maturity of 6.26%.
If the yield to maturity of the bond rises to 7.13%(APR with semiannual compounding), what price will the bond trade for?

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