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33. Moerdyk Corporation's bonds have a 15-year maturity, a 7.25% semiannual coupon, and a par value of $1,000. The going interest rate (r d )

33.

Moerdyk Corporation's bonds have a 15-year maturity, a 7.25% semiannual coupon, and a par value of $1,000. The going interest rate (r_d) is 6.20%, based on semiannual compounding. What is the bond's price?

a. $1,074.05

b. $1,129.12

c. $1,047.19

d. $1,157.35

e. $1,101.58

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