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What is the current value of a $1,000 bond with a 8% annual coupon rate (paid semi-annually) that matures in 8 years if the appropriate

What is the current value of a $1,000 bond with a 8% annual coupon rate (paid semi-annually) that matures in 8 years if the appropriate stated annual discount rate is 5%?

Please round your answer to the nearest cent.

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