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Johnson Motors's bonds have 1 0 years remaining to maturity. Interest is paid annually, the bonds have a $ 1 , 0 0 0 par

Johnson Motors's bonds have

10

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

1, 000

par value, and the coupon rate is

8

percent. The bonds have a yield to maturity of

9

percent. What is the current market price of these bonds?

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