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1. Problem 7.01 (Bond Valuation) eBook Problem Walk-Through Madsen Motors's bonds have 15 years remaining to maturity. Interest is paid annually, they have a $1,000

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1. Problem 7.01 (Bond Valuation) eBook Problem Walk-Through Madsen Motors's bonds have 15 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon Interest rate is 11%, and the yield to maturity is 14%. What is the band's current market price? Round your answer to the nearest cent

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