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XYZ , Inc. has a bond outstanding with a par value of $ 1 0 , 0 0 0 that makes monthly coupon payments. The

XYZ, Inc. has a bond outstanding with a par value of $10,000 that makes monthly coupon payments. The coupon rate is 9 percent, and the bond has 24 years remaining to maturity. If the yield to maturity of similar bonds is 9.35 percent, what is the current price of the bond?

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