M poirot wishes to sell a bond that has a face value of, Business Economics

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M poirot wishes to sell a bond that has a face value of

M. Poirot wishes to sell a bond that has a face value of $1,000. The bond bears an interest rate of 11.45% with bond interest payable semi annually. Six years ago, $829 was paid for the bond. At least a 12% return (yield) on the investment is desired. The minimum selling price must be:

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