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A three-year bond is issued with a face value of $1000 and a semi-annual coupon of $30. If the required annual yield on the bond

A three-year bond is issued with a face value of $1000 and a semi-annual coupon of $30. If the required annual yield on the bond is 8%, what is the value of the bond at the time it is issued?

A) $768

B) $948

C) $1000

D) $1240

E) $1464

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