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Question compute the price of a 1000 par value 16 percent

Question: Compute the price of a $1,000 par value, 16 percent (semi-annual payment) coupon bond with 17 years remaining until maturity assuming that the bond's yield to maturity is 12 percent? (Round your answer to 2 decimal places and record your answer without dollar sign or commas). Please provide the authentic solution of this problem.

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