Question: Johnson Motorss bonds have 10 years remaining to maturity. Interest is paid annually, the bonds have a $ 1,000 par value, and the coupon rate

Johnson Motors’s bonds have 10 years remaining to Interest is paid annually, the bonds have a $ 1,000 par value, and the rate is 8 percent. The bonds have a yield to of 9 percent. What is the current market price of these bonds?

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