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Lambert, Inc. bonds have a face value of $1,000. The bonds carry a 9 percent coupon, pay interest semiannually, and mature in 11 years.

Lambert, Inc. bonds have a face value of $1,000. The bonds carry a 9 percent coupon, pay interest semiannually, and mature in 11 years. What is the current price of these bonds if the yield to maturity is 8.79 percent?

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