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Modern Visionary Hotel Chain has $1,000 face value bonds outstanding. These bonds pay interest semiannually, mature in six years, and have a 5 percent coupon.
Modern Visionary Hotel Chain has $1,000 face value bonds outstanding. These bonds pay interest semiannually, mature in six years, and have a 5 percent coupon. The annual yield to maturity is 12.6%. What is the bonds current price? (round to the nearest penny)
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