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A coupon bond that pays interest annually has a par value of $1,000, matures in 8 years, and has a yield to maturity of 6%.

A coupon bond that pays interest annually has a par value of $1,000, matures in 8 years, and has a yield to maturity of 6%. If the coupon rate is 7%, then value of the bond today will be __________.

A)$1,000

B)$1,062.10

C)$1,081.82

D)$1,100.03

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