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Emacs Co. issued 13-year, $1,000 face value bonds one year ago at a coupon rate of 6.7 percent. The bonds make semiannual payments. If the

Emacs Co. issued 13-year, $1,000 face value bonds one year ago at a coupon rate of 6.7 percent. The bonds make semiannual payments. If the YTM on these bonds is 9.6 percent, what is the current bond price?

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