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9-3: Bond Valuation Problem Walk-Through Bond valuation Callaghan Motors' bonds have 8 years remaining to maturity. Interest is paid annually, they have a $1,000 par

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9-3: Bond Valuation Problem Walk-Through Bond valuation Callaghan Motors' bonds have 8 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 6%, and the yield to maturity is 5%. What is the bond's current market price? Round your answer to the nearest cent

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