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Fresh Water Inc sold an issue of 16 year $1000 par value bonds

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Fresh Water Inc sold an issue of 16 year $1000 par value bonds to
the public. The bonds have a 11.17 percent coupon rate and pay interest annually. The current market rate of interest on the fresh water Inc bonds is 8.42 percent. What is the current market price of the bonds?
Round the answer to two decimal places.

 
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