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Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to the public. The bonds had a 8.18 percent coupon rate and paid

Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to the public. The bonds had a 8.18 percent coupon rate and paid interest annually. It is now 8 years later. The current market rate of interest on the Bright Sun bonds is 11.66 percent. What is the current market price (intrinsic value) of the bonds?

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