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Aurand, Inc. has outstanding bonds with an 8% annual coupon rate paid semiannually.The bonds have a par value of$1,000, annual yield to maturity is 9%,

Aurand, Inc. has outstanding bonds with an 8% annual coupon rate paid semiannually.The bonds have a par value of$1,000, annual yield to maturity is 9%, and will mature in 14 years. Calculate the current market price of the bond.

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