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Suppose that ABC Corporation issued a bond with 8 years until maturity, a face value of $1,000, and a coupon rate of 6.5% (annual payments).

Suppose that ABC Corporation issued a bond with 8 years until maturity, a face value of $1,000, and a coupon rate of 6.5% (annual payments). The yield to maturity on this bond when it was issued was 9.0%. What was the price of this bond when it was issued?

Answer: the price of the bond was $___________. (Round to the nearest cent.)

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