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The Skowhegan Company issues 10-year bonds, with an annual coupon rate of 9.8%. Calculate the price per $1,000 face value using an interest rate of

The Skowhegan Company issues 10-year bonds, with an annual coupon rate of 9.8%. Calculate the price per $1,000 face value using an interest rate of 6.4%. Answer to the nearest cent.

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