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A bond with a par value of 100 pays a coupon of 12% and will be redeemed in 6 years' time at a ten percent

A bond with a par value of 100 pays a coupon of 12% and will be redeemed in 6 years' time at a ten percent discount to par. If investors in corporate bonds with a similar risk profile require a return of 6%, what should the current market price (to the nearest pound) of the bond be?

A. 90

B. 122

C. 116

D. 109

E. 100

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