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It was written 700 years ago, don't expect it to be exactly modern Italian. I'm no expert either in Latin or in Italian, but like HarryT says it's much closer to Italian than to Latin, it seems to lack all (or most of) the declensions of Latin, and the structure, spelling, etc. looks (to me at least) a lot like modern Italian.
Note, however, that no original manuscripts survive today, and the versions we know have probably some "modernization" applied.
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