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Sullivan Incorporated issues 18-year bonds, with an annual coupon rate of 8.3%. Calculate the price per $1,000 face value using an interest rate of 6.1%.

Sullivan Incorporated issues 18-year bonds, with an annual coupon rate of 8.3%. Calculate the price per $1,000 face value using an interest rate of 6.1%. Answers should be in dollars to the nearest hundredth (to the nearest cent).

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