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Callaghan Motors' bonds have 2 0 years remaining to maturity. Interest is paid annually, they have a $ 1 , 0 0 0 par value,

Callaghan Motors' bonds have 20 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 8.5%, and the yield to maturity is 8%. What is the bond's current market price? Round your answer to the nearest cent.

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