Madsen Motors's bonds have 25 years remaining to maturity. Interest is paid annually, they have a...

Madsen Motors's bonds have 25 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 11%, and the yield to maturity is 12%. What is the bond's current market price? Round your answer to the nearest cent.

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jeff jeffy answered 2 years ago

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