Calculate the current price of value bond

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Calculate the current price of a $1,000 par value bond that has a coupon rate of 6 percent, pays coupon interest annually, has 16 years remaining to maturity, and has a current yield to maturity (discount rate) of 11 percent. (Round your answer to 2 decimal places and record without dollar sign or commas)

Reference no: EM131348083

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