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Homework Ch.7 Assignment: Homework Ch.7 Assignment Score: 0.00% Save Submit Assignment for Grading Questions Question 3 of 10 Check My Work (3 remaining) eBook Problem

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Homework Ch.7 Assignment: Homework Ch.7 Assignment Score: 0.00% Save Submit Assignment for Grading Questions Question 3 of 10 Check My Work (3 remaining) eBook Problem Walk-Through Madsen Motors's bonds have 14 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 6%, and the yield to maturity is 9%. What is the bond's current market price? Round your answer to the nearest cent. Check My Work (3 remaining)

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