Question: 1. Problem 7.01 (Bond Valuation) eBook Problem Walk Through Madsen Motors's bonds have 12 years remaining to maturity. Interest is paid annually, they have a

1. Problem 7.01 (Bond Valuation) eBook Problem Walk Through Madsen Motors's bonds have 12 years remaining to maturity. Interest is paid annually, they have a $1,000 par value; the coupon interest rate is 6%; and the yield to maturity is 8%. What is the bond's current market price? Round your answer to the nearest cent. Brade it Now Continue without saving

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