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Bond Valuation with Annual Payments Rinus Software's bonds have 5 years remaining to maturity. Interest is paid annually, the bonds have a 1,000 par value,

Bond Valuation with Annual Payments

Rinus Software's bonds have 5 years remaining to maturity. Interest is paid annually, the bonds have a 1,000 par value, and the coupon interest rate is 8.5%. The bonds have a yield to maturity of 13%. What is the current market price of these bonds? Round your answer to the nearest cent.

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