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10-year bonds issued by MacDoon Corp have a face value of $1,000 per share. The bonds pay interest semiannually with an annual coupon rate of

10-year bonds issued by MacDoon Corp have a face value of $1,000 per share. The bonds pay interest semiannually with an annual coupon rate of 9.0%. If the yield to maturity is 6.0%, what is the current price of the bond?

Multiple Choice

  • $955

  • $828

  • $1,056

  • $1,223

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