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same Madsen Motors's bonds have 21 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the foupon interest rate is

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Madsen Motors's bonds have 21 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the foupon interest rate is 12%; and the yield to maturity is 11%. What is the bond's current market price? Round your answer to the nearest cent

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