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A coupon bond pays interest semi-annually, matures in 5 years, has a par value of $1,000 and a coupon rate of 12%, and an eective

A coupon bond pays interest semi-annually, matures in 5 years, has a par value of $1,000 and a coupon rate of 12%, and an eective annual yield to maturity of 10.25%. The price the bond should sell for today is .

A. $922.77

B. $924.16

C. $1,075.80

D. $1,077.20

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