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As a bond fund manager, you are considering 10-year corporate bonds issued by Mellon Bank (MB). Each MB bond has $1,000 par value with 8%

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As a bond fund manager, you are considering 10-year corporate bonds issued by Mellon Bank (MB). Each MB bond has $1,000 par value with 8% annual coupon rate. The coupons are paid semi-annually. The estimated rate of return on MB bond is 10%. What is the price of the bond? A. $875.38 B. $946.32 C. $831.31 D. $1,010.29

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