Question: Youre considering a 12 year, $1000 part value bond. Its coupon rate is 11%, and interest is paid semi annually. If you require an effective

Youre considering a 12 year, $1000 part value bond. Its coupon rate is 11%, and interest is paid semi annually. If you require an effective annual interest rate (not a nominal rate) of 9.2025%, how much should you be willing to pay for the bond? Do not round intermediate calculations. Round your answer to the nearest cent.

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