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Jackson Corporation's bonds have 8 years remaining to maturity. Interest is paid annually, the bonds have a $ 1 , 0 0 0 par value,

Jackson Corporation's bonds have

8

years remaining to maturity. Interest is paid annually, the bonds have a $

1, 000

par value, and the coupon interest rate is

12 % .

The bonds have a yield to maturity of

13 % .

What is the current market price of these bonds? Do not round intermediate calculations. Round your answer to the nearest cent.

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