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BankMart Inc. recently issued bonds that mature in 9 years. They have a par value of $1,000 and an annual coupon of 6%. Your required

BankMart Inc. recently issued bonds that mature in 9 years. They have a par value of $1,000 and an annual coupon of 6%. Your required rate of return is 9%.

What is the maximum price you want to pay for the bond?

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