$($Bond valuation$)$Calculate the value of a bond that matures in $11$ years and has a $ $1$ comma $000$ par value. The annual coupon interest rate is $9$ percent and the$$ market's required yield to maturity on a$$ comparable$-$risk bond is $11$ percent.

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Part $1$

The value of the bond is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)($Related to Checkpoint $9\mathrm{.}3)($Bond valuation$)$ Calculate the value of a bond that matures in $11$ years and has a $$1,000$ par value. The annual coupon interest rate

is $9$ percent and the market's required yield to maturity on a comparable$-$risk bond is $11$ percent.

The value of the bond is $$.($Round to the nearest cent.$)$