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7h 01.01 Arred oso ebook 1 Problem Walk-Through Madsen Motors's bonds have 5 years remaining to maturity. Interest is paid annually; they have a $1,000

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01.01 Arred oso ebook 1 Problem Walk-Through Madsen Motors's bonds have 5 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 8.5%; and the yield to maturity is 5%. What is the band's current market price? Round your answer to the nearest cent

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