According to the Writer's Guide, dated October 2, 1978, a Parsec is defined as 90 million miles or 150 million kilometers, the distance from the Earth to the Sun. It is also the equivalent of 10 hectars.
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In reality a parsec is the parallax of one arc second, which translates to approximately 206,264 astronomical units (the mean distance between Earth and the Sun) or 3.26 light years.