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A 15 year bond issued today by Carris, Inc. has a coupon rate of 7%, a required return of 5% and a face value of

A 15 year bond issued today by Carris, Inc. has a coupon rate of 7%, a required return of 5% and a face value of $1000. The bond will be sold 4 years from now when interest rates will be 8%. What is the ending value of the bond when it is sold (to the nearest dollar)?

A.$1027

B.$854

C.$1,000

D.$929

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