Question: What is the most we should pay for a bond with a par value of $1000, coupon rate of 7.2% paid semi-annually, and a remaining

What is the most we should pay for a bond with a par value of $1000, coupon rate of 7.2% paid semi-annually, and a remaining life of 20 years? The bond is rated BBB, with a yield to maturity of 9.6%. (Round your answer to the nearest penny.)

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