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X-Co is offering a unique perpetual bond that will pay $34.50 next year, and the $34.50 will grow at 1.0%/year in the future. If the

X-Co is offering a unique perpetual bond that will pay $34.50 next year, and the $34.50 will grow at 1.0%/year in the future. If the market rate is 4.25%/year, what is its current market price?

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