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Moore Company's bonds mature in 7 years, have a par value of $1,000 with a coupon rate of 4.5% (annual coupon payments). The market requires

Moore Company's bonds mature in 7 years, have a par value of $1,000 with a coupon rate of 4.5% (annual coupon payments). The market requires an interest rate of 6.5% on these bonds. What is the bond's price? (Round to the second decimal place.)

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