Bond valuation callaghan motors bonds have 13 years, Financial Management

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Bond valuation callaghan motors bonds have 13 years

BOND VALUATION Callaghan Motors' bonds have 13 years remaining to maturity. Interest is paid semi annually, they have a $1,000 par value, the coupon interest rate is 5%, and the yield to maturity is 6%. What is the bond's current market price? Round to TWO decimal places.

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