A $6,000 bond had a coupon rate of 5.75% with interest paid semi-annually. Bianc purchased this bond when there were 7 years left to maturity and when the marke interest rate was 6.00% compounded semi-annually. He held the bond for 3 years, then sold it when the market interest rate was 5.50% compounded semi-annually. a. What was the purchase price of the bond? Round to the nearest cent.

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