If investors require a rate of return equal to 88 on, Financial Management

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If investors require a rate of return equal to 88 on

Seven years ago, Canopy Tents issued a 15-year bond with a coupon rate equal to 5% (paid semiannually) and a $1,000 face value.

If investors require a rate of return equal to 8.8% on similar bonds. To the nearest dollar, what should be the market price of Canopy's bond?

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