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4. Moerdyk Corporation's bonds have a 15-year maturity, a 7.45% semiannual coupon, and a par value of $1,000. The going interest rate (r d )

Moerdyk Corporation's bonds have a 15-year maturity, a 7.45% semiannual coupon, and a par value of $1,000. The going interest rate (r_d) is 5.20%, based on semiannual compounding. What is the bond's price?

a. $1,252.36

b. $1,232.36

c. $1,138.27

d. $1,270.09

e. $1,230.42

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