Present annual yields on similar bonds

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Reference no: EM13907361

A bond with a $1,000 par value has an 8.35% coupon rate. It will mature in 5 years, and coupon payments are made semi-annually. Present annual yields on similar bonds are 7.35%. What should the current price be;

a $1,015.06

b $1,020.15

c $1,035.36

d $1,041.22

Reference no: EM13907361

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