Madsen Motors's bonds have 7 years remaining to maturity. Interest is paid anually; they have...

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Accounting

Madsen Motors's bonds have 7 years remaining to maturity. Interest is paid anually; they have $1,000 par value; the coupon interest rate is 10.5%; and the yeild to maturity is 9%. What is the bond's current market price? Round your answer to the nearest cent.

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