They have a 1000 par value the coupon interest rate is 9, Financial Management

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They have a 1000 par value the coupon interest rate is 9

Madsen Motors's bonds have 21 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 9%; and the yield to maturity is 11%. What is the bond's current market price? Round your answer to the nearest cent.

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Financial Management: They have a 1000 par value the coupon interest rate is 9

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