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The Pink Pony debt is an issue of $1000 face amount 9% coupon bonds with 7 years to maturity. Since 8% is their current pre-tax

The Pink Pony debt is an issue of $1000 face amount 9% coupon bonds with 7 years to maturity. Since 8% is their current pre-tax cost of debt, what is the current price of these bonds? $

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