Question: A bond has 1 0 years until maturity, a coupon rate of 8 . 3 % , and sells for $ 1 , 1 7

A bond has 10 years until maturity, a coupon rate of 8.3%, and sells for $1,170. Interest is paid annually. (Assume a face value of $1,000.)
If the bond has a yield to maturity of 9.7%1 year from now, what will its price be at that time?
Note: Do not round intermediate calculations. Round your answer to nearest whole number.

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