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A firm has a credit rating of Baa. Its $ 1 , 0 0 0 par value, 1 5 - year bonds pay a 6

A firm has a credit rating of Baa. Its $1,000 par value, 15-year bonds pay a 6.00% coupon. If the current market for Baa-rated debt is 8.00% how much would you be willing to pay for one of these bonds?
Select one:
a. $828.81
b. $814.74
c. $1,194.25
d. $1,000.00
e. $369.52
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