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A corporate bond has 16 years to maturity, a face value of $1,000, a coupon rate...

A corporate bond has 16 years to maturity, a face value of $1,000, a coupon rate of 4.6% and pays interest twice a year. The annual market interest rate for similar bonds is 3.4%.

What is the price of the bond (in $)?

2 years later, the market interest rate for similar bonds has gone up to 4.4%. What is the new price of the bond  (in $)?

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