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What is the maximum price should be willing to pay

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Question 1: Rogoff Co.'s 15-year bonds have an annual coupon rate of 9.5%. Each bond has face value of $1,000 and makes semiannual interest payments. If you require an 11% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond?

Select the correct answer.

a. $887.74

b. $881.22

c. $884.48

d. $891.00

e. $877.96

Reference no: EM132492863

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