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You are considering buying a bond that matures in 8 years from today. The par value of the bond is $1000 and the coupon rate

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You are considering buying a bond that matures in 8 years from today. The par value of the bond is $1000 and the coupon rate is 8%. If the current market interest rates are 7%, what is the bond price today if the coupon is paid annually? Round your answer to the nearest hundredth

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