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A corporate bond has 20 years to maturity, a face value of $1,000, a coupon rate of 4.6% and pays interest twice a year. The

A corporate bond has 20 years to maturity, a face value of $1,000, a coupon rate of 4.6% and pays interest twice a year. The annual market interest rate for similar bonds is 3.1%. What is the value of the bond?

A. $1220.44 B. $1,222.33 C. $1,221.11 D. $1232.56

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