Calculate the current price of par value bond

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Reference no: EM131336449

Calculate the current price of a $1, 000 par value bond that has a coupon rate of 17 percent, pays coupon interest annually, has 27 years remaining to maturity, and has a current yield to maturity (discount rate) of 8 percent. (Round your answer to 2 decimal places and record without dollar sign or commas).

Reference no: EM131336449

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