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10. A bond has 10 years remaining to maturity. The annual coupon rate of the bond is 8 percent. The bond makes annual coupon payments.

10. A bond has 10 years remaining to maturity. The annual coupon rate of the bond is 8 percent. The bond makes annual coupon payments. The next coupon payment occurs one year from today. The par value (or face value) of the bond is $1,000. If the annual yield to maturity (or the required rate of return) on the bond is 6 percent, find the current bond price (or bond value)

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