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There are two published results for this test: 1.26743233E15 1267.43233E12 The second one should not be allowed. (Functions and operators, 17.1.2, "there must be exactly one digit before the decimal point, which must be non-zero") However, the first result is not the only possible result. Saxon produces 1.2674324E15 which is a different lexical representation of the same float as the published value, and is therefore a correct answer.
I agree with both of your points. I have changed the alternate result to 1.2674324E15.