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Bond Valuation with Semiannual Payments Carl's Carwash has issued bonds that have a 10% coupon rate, payable semiannually. The bonds mature in 7 years, have

Bond Valuation with Semiannual Payments

Carl's Carwash has issued bonds that have a 10% coupon rate, payable semiannually. The bonds mature in 7 years, have a face value of $1,000, and a yield to maturity of 9.5%. What is the price of the bonds? Round your answer to the nearest cent.

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