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Bonds have 9 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 6.25%.
Bonds have 9 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 6.25%. The bonds have a yield to maturity of 19.25%. What is the current market price of these bond? Please show work
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