If the market’s current required rate of return (i.e., yield) is 8.51%, what is the current price of a 26-year…

If the market’s current required rate of return (i.e., yield) is 8.51%, what is the current price of a 26-year $1,000 par-value bond that pays a 7.13% coupon over 40 period(s) per year? (Round to the nearest cent.)

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