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Fresh Food, Inc. sold an issue of 13-year exist1,000 par value bonds to the public. The bonds have a 10.59 percent coupon rate and pay
Fresh Food, Inc. sold an issue of 13-year exist1,000 par value bonds to the public. The bonds have a 10.59 percent coupon rate and pay interest annually. The current market rate of interest on the Fresh Food, Inc. bonds is 9.32 percent. What is the current market price of the bonds? Round the answer to two decimal places
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