Twelve years ago a fir issued a 30-year $1,000 face value bond at par. At the t…
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Twelve years ago a fir issued a 30-year $1,000 face value bond at par. At the time, the market yield for bonds of similar risk was 5%. Today these bonds are yielding 3% and the coupon is paid semi-annually.
Round your work to at least 6 decimal places and final answer to 2 decimal places.
| Price of these bonds today |