Do the Math 14-3 Market Price What is the market price of a $1,000, 10 percent bond paying a semiannual coupon if comparable market interest rates rise to 14 percent and the bond matures in 14 years? Round your answer to the nearest dollar. (Hint: Use Appendix A-2 and Appendix A-4.) Round 'Present value of a Single Amount' and 'Present value of a Series of Equal Amounts' in intermediate calculations to four decimal places.
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