What is the price of the bond

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Reference no: EM131300390

Sea Masters Co. issued $1000 par value bonds with a 8 percent coupon. The bond pays interest semi-annually and has 20 years remaining to its maturity date. If the market demands 9.7 percent required rate on the bond, what is the price of the bond?

Round it two decimial places, and do not include the $ sign, e.g., 935.67.

Reference no: EM131300390

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