Question: A $ 1 , 0 0 0 face value bond currently has a yield to maturity of 1 0 percent. The bond matures in 7

A $1,000 face value bond currently has a yield to maturity of 10 percent. The bond matures in 7 years and pays interest annually. The coupon rate is 8 percent. What is the current price of this bond? Please write the answer in two decimal places.

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