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A 15-year zero-coupon bond was issued with a $1,000 par value and a yield to maturity of 8%. If similar bonds are currently yielding 10%,

A 15-year zero-coupon bond was issued with a $1,000 par value and a yield to maturity of 8%. If similar bonds are currently yielding 10%, what is the market value of the bond?

A. $239.39

B. $315.24

C. $800.00

D. $1,000.00

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