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What is the bonds current market price

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Reference no: EM133380056

Question: Madsen Motors's bonds have 17 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 12%; and the yield to maturity is 13%. What is the bonds current market price? Round your answer to the nearest cent.

Reference no: EM133380056

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