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In 2009, you purchased a $1,000 par value corporate bond with an interest rate of 7.25 percent. Today, comparable bonds are paying 700 percent. What

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In 2009, you purchased a $1,000 par value corporate bond with an interest rate of 7.25 percent. Today, comparable bonds are paying 700 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 ploces.)

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