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A firms bonds have a face value of $1,000, mature in four years, pay interest semiannually, and have a coupon rate of 4.5 percent. The
A firms bonds have a face value of $1,000, mature in four years, pay interest semiannually, and have a coupon rate of 4.5 percent. The next interest payment will be paid two months from today. The market rate of return is 5.1 percent. What is the clean price of the bond?
Multiple Choice
$656.57
$978.54
$971.08
$663.01
$993.55
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