The Pharoah Department of Transportation has issued $25-$year bonds that make semiannual coupon payments at a rate of $10\mathrm{.}425$

percent. The current market rate for similar securities is $10\mathrm{.}30$ percent. Assume that the face value of the bond is $$1,000.$

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Problem $8\mathrm{.}29$ a$-$d $($Excel Video$)($a$)$

Your answer is incorrect.

What is the current market value of one of these bonds? $($Round answer to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Current market value $