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Callaghan motors bonds have 9 years remaining to maturity

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Callaghan Motors' bonds have 9 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 9.5%, and the yield to maturity is 7%. What is the bond's current market price? Round your answer to the nearest cent

Reference no: EM13606247

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