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#13 Assume a par value of $1,000. Caspian Sea plans to issue a 8.00 year, annual pay bond that has a coupon rate of 11.00%.

#13

Assume a par value of $1,000. Caspian Sea plans to issue a 8.00 year, annual pay bond that has a coupon rate of 11.00%. If the yield to maturity for the bond is 11.0%, what will the price of the bond be?

Answer format:Currency: Round to: 2 decimal places.

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