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Calculate the current price of a $1,000 par value bond that has a coupon rate...

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Finance

Calculate the current price of a $1,000 par value bond that has a coupon rate of 18 percent, pays coupon interest annually, has 16 years remaining to maturity, and has a current yield to maturity (discount rate) of 6 percent. (Round your answer to 2 decimal places and record without dollar sign or commas).

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