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In 2009, you purchased a $1,000 par value corporate bond with an interest rate of 10.75 percent. Today, comparable bonds are paying 6.75 percent. What

In 2009, you purchased a $1,000 par value corporate bond with an interest rate of 10.75 percent. Today, comparable bonds are paying 6.75 percent.

What is the approximate dollar price for which you could sell your bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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