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1. Problem 7.01 (Bond Valuation) elook Problem Walk Through Madsen Motors's bonds have 17 years remaining to maturity. Interest is paid annually; they have a

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1. Problem 7.01 (Bond Valuation) elook Problem Walk Through 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 9.5%; and the yield to maturity is 6%. What is th bond's current market price? Round your answer to the nearest cent. $

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