Even though most corporate bonds in Canada and the United States make coupon payments semiannually, bonds issued elsewhere

often have annual coupon payments. Suppose a German company issues a bond with a par value of $1,000,18$ years to maturity, and

a coupon rate of $7\mathrm{.}3$ percent paid annually.

If the yield to maturity is $6\mathrm{.}15$ percent, what is the current price of the bond? $($Do not round intermediate calculations. Round the final

answer to $2$ decimal places. Omit $$ sign in your response.$)$

Current price of the bond

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