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The interest rate is 6.9%. A company wants to sell a one-year, 11.3% coupon, $1000 face amount bond today. There is a 1% chance the

The interest rate is 6.9%. A company wants to sell a one-year, 11.3% coupon, $1000 face amount bond today. There is a 1% chance the company will default on its bond and only be able to repay 83% of the $1000 principal amount (and none of the coupon). What will the bond sell for today? Give your answer in dollars to the nearest penny.

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