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A bond that pays 11% interest compounded annually on a $1,000 face value will mature in 16 years. The interest rate is now 13%. What

A bond that pays 11% interest compounded annually on a $1,000 face value will mature in 16 years. The interest rate is now 13%. What should the bonds market price be? Do not round intermediate calculations. Round PVFA and PVF values in intermediate calculations to four decimal places. Round your answer to the nearest cent.

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