What is the bonds current market price

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Reference no: EM13266124

Callaghan Motors' bonds have 21 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 7.5%, and the yield to maturity is 9%. What is the bond's current market price? Round your answer to the nearest cent.

Reference no: EM13266124

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