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What is the market value of a bond that will pay a total of 15 annual coupons of $90 each over the remainder of its life? Assume the bond has a $1,000 face value and an 8%/year yield to maturity.

Select one:

a. $634.86

b. $1,196.36

c. $1,085.60

d. $1,192.07

e. $1,135.90