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Madsen Motors's bonds have 18 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 6.5%;

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Madsen Motors's bonds have 18 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 6.5%; and the yield to maturity is 11%. What is the bond's current market price? Round your answer to the nearest cent. Cake AssignmentMain.do?takeAssignmentSessionLocator-assignment-take,376d8005-03d9-46c9-9e1d-fbc5dbfd0959#

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