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Redesigned Computers has 6.5 percent coupon bonds outstanding with a maturity date of 8 years from now. The yield to maturity is 16 percent and

Redesigned Computers has 6.5 percent coupon bonds outstanding with a maturity date of 8 years from now. The yield to maturity is 16 percent and the face value is $1,000. Interest is paid semiannually. What is the market price for these bonds?

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