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What is the current price of the bonds for luckmann co

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Problem 1: One year ago Lerner and Luckmann Co. issued 15-year, noncallable, 9.1% annual coupon bonds at their par value of $1,000. Today, the market interest rate on these bonds is 5.5%. What is the current price of the bonds, given that they now have 14 years to maturity?

Select the correct answer.

A) $1,345.23

B) $1,339.37

C) $1,333.51

D) $1,342.30

E) $1,336.44

Reference no: EM132954292

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