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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def create_project_config_path( path, mode=0o777, parents=False, exist_ok=False ):
 """Create new project configuration folder."""

    # FIXME check default directory mode
    project_path = Path(path).absolute().joinpath(RENKU_HOME)
    project_path.mkdir(mode=mode, parents=parents, exist_ok=exist_ok)
    return str(project_path)