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Calculate the current price of a $1,000 par value bond that has a coupon rate of 8 percent, pays coupon interest annually, has 21 years

Calculate the current price of a $1,000 par value bond that has a

coupon rate of 8 percent, pays coupon interest annually, has 21

years remaining to maturity, and has a current yield to maturity

(discount rate) of 13 percent. (Round your answer to 2 decimal

places and record without dollar sign or commas).

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