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Mercy, Corp. issued a 1 0 - year bond with a face value of $ 1 , 0 0 0 , coupon rate of 9

Mercy, Corp. issued a

10 -

year bond with a face value of $

1, 000,

coupon rate of

9.2 %

and a yield to maturity of

7.2 % .

What is the current value of the bond?

(

Round your answer to TWO decimal places.

)

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