A 15-year municipal bond was issued 5 years ago. Its coupon interest rate is 4%, interest payments are made semiannually, and its face value is $1000. If the current market interest rate is 6.09%, what should be the bond’s price? Note: The issuer of the bond (city, state, company) makes interest payments to the bondholder (at the coupon rate), as well as a final value payment.

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