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BankMart Inc. recently issued bonds that mature in 8 years. They have a par value of $1,000 and an annual coupon of 2%. The current

BankMart Inc. recently issued bonds that mature in 8 years. They have a par value of $1,000 and an annual coupon of 2%. The current market interest rate is 10%.

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What should be the bond's price?

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