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Question - Bond Valuation with Annual Payments

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Reference no: EM132556471

Question - Bond Valuation with Annual Payments

Jackson Corporation's bonds have 11 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 8%. The bonds have a yield to maturity of 9%. What is the current market price of these bonds? Do not round intermediate calculations. Round your answer to the nearest cent.

Reference no: EM132556471

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