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A $1,000 par bond that pays interest semiannually has a quoted coupon rate of 7%, a promised yield to maturity of 4.3% and exactly 12

A $1,000 par bond that pays interest semiannually has a quoted coupon rate of 7%, a promised yield to maturity of 4.3% and exactly 12 years to maturity. The present value of the coupon stream represents ______ of the total bond's value.

a 52.0%

b 54.4%

c 50.9%

d 53.1%

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