Question: A bond has a two-year maturity, face value is $1,415 and it pays an annual coupon of 10 percent. What is the price of this

A bond has a two-year maturity, face value is $1,415 and it pays an annual coupon of 10 percent.

What is the price of this bond if the current yield to maturity is 8 percent?

Enter your answer in the box below. Round your answer to the nearest 4 decimal places.

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