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Kessen Inc.'s bonds mature in 7 years, have a par value of $1,000, and make an annual coupon payment of $75. The market interest rate

Kessen Inc.'s bonds mature in 7 years, have a par value of $1,000, and make an annual coupon payment of $75. The market interest rate for the bonds is 8.5%. What is the bond's price?

$948.81

$956.30

$969.96

$923.22

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