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Jill is interested in a 8-year bond which pays a coupon of 6.1 percent annually and trades at a yield of 13.5% per annum. The

Jill is interested in a 8-year bond which pays a coupon of 6.1 percent annually and trades at a yield of 13.5% per annum. The face value is $1,000. What is the current price of this bond? (to the nearest cent)

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