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Question 08 A Check My Work Click here to read the eBook: Bond Valuation 11 Problem Walk-Through BOND VALUATION Madsen Motors's bonds have 16 years

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Question 08 A Check My Work Click here to read the eBook: Bond Valuation 11 Problem Walk-Through BOND VALUATION Madsen Motors's bonds have 16 years remaining to maturity. Interest is paid annually; they have a $1,000 per value; the coupon interest rate is 9.5%; and the yield to maturity is 8%. What is the bond's current market price? Round your answer to the nearest cent. 1187 28,152 WA

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