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XYZ Corp. has a bond issue with a $1,000 par value and a 10% coupon rate. It pays interest annually and has 25 years remaining
XYZ Corp. has a bond issue with a $1,000 par value and a 10% coupon rate. It pays interest annually and has 25 years remaining to maturity. It just made a coupon payment (i.e., it has 25 coupon payments left to make). If the yield to maturity of bonds with similar risk and maturity is 9%. What the price of XYZs bond today? Round your final answer to two decimals.
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