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A $1,000 par value bond matures in 8 years and pays interest semi-annually. The coupon rate is 6% and the yield to maturity is 9.7%.

A $1,000 par value bond matures in 8 years and pays interest semi-annually. The coupon rate is 6% and the yield to maturity is 9.7%. What is the price of the bond? (Show your answer as a positive number to two decimals, e.g., 1234.56)

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