Question: Summit Systems has issued bonds that have a 4% coupon rate, with coupons paid semiannually. The bonds mature in 8 years, have a face value

Summit Systems has issued bonds that have a 4% coupon rate, with coupons paid semiannually. The bonds mature in 8 years, have a face value of $1,000, and a yield to maturity of 11%. What is the price of the bond? Round your answer to two decimal places.

Summit Systems has issued bonds that have a 4% coupon rate, with coupons pai semiannually. The bonds mature in 8 years, have a face value of $1,000, and a yi to maturity of 11%. What is the price of the bond? Round your answer to two decimal places

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