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What is the price today for a delicious mills bond

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Six years ago, Delicious Mills, Inc. issued 30-year to maturity bond that had a 9.61% annual coupon rate, paid semiannually. The bonds have a $1000 face value. Since then, interest rates in general have changed in the yield to maturity on the Delicious Mills bonds is now 8.57%. Given this information, what is the price today for a Delicious Mills bond?

Round the answer to two decimal places.

Reference no: EM131492981

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