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Lycan Inc. has 9.5% coupon bonds on the market that have 15 years left to maturity and a face value of $1,000. The bonds make

Lycan Inc. has 9.5% coupon bonds on the market that have 15 years left to maturity and a face value of $1,000. The bonds make annual payments. If the yield to maturity on these bonds is 7.5%, what is the current bond price?

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