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Steuben Incorporated issues 11-year bonds, with an annual coupon rate of 8.9%. Calculate the price per $1,000 face value using an interest rate of 11.6%.

Steuben Incorporated issues 11-year bonds, with an annual coupon rate of 8.9%. Calculate the price per $1,000 face value using an interest rate of 11.6%. Answers should be in dollars to the nearest hundredth (to the nearest cent).

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