What is the bond current market price

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Reference no: EM131493283

Madsen Motors's bonds have 7 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 8.5%; and the yield to maturity is 10%. What is the bond's current market price? Round your answer to the nearest cent.

Reference no: EM131493283

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