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A 10-year bond pays annual interest of 8% on a face value of $1,000. If similar bonds are currently yielding 10%, what is the market

A 10-year bond pays annual interest of 8% on a face value of $1,000. If similar bonds are currently yielding 10%, what is the market value of the bond?

Select one:

A. $877.11

B. $910.93

C. $1,100.78

D. None of the above

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