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Par value of the bond is $1,000. Malahat Inc. has 7.5% coupon bonds on the market that have ten years left to maturity. The bonds

Par value of the bond is $1,000. Malahat Inc. has 7.5% coupon bonds on the market that have ten years left to maturity. The bonds make annual payments. If the YTM on these bonds is 8.75%, what is the current bond price?

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