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A corporation issues a debt instrument such as a bond that promises to pay you annually $80 for three years and $1,000 after three years.

A corporation issues a debt instrument such as a bond that promises to pay you annually $80 for three years and $1,000 after three years. What is the maximum amount you would pay for this debt instrument if you wanted to earn 9 percent? Use Appendix B and Appendix D to answer the question. Round your answer to the nearest dollar. $

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