Question: The SafeWay Corp issued 2 0 - year, noncallable, 7 . 1 % annual coupon bonds at their par value of $ 1 , 0

The SafeWay Corp issued 20-year, noncallable, 7.1% annual coupon bonds at their par value of $1,000 one year ago.
This October 6th, the market interest rate on these bonds is 5.5%. What is the current price of the bonds, given that they now have 19 years to maturity?

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