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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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