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As a bond fund manager, you are considering corporate bonds issued by Changing Universe ( CU ) . Each CU bond is a 4 -

As a bond fund manager, you are considering corporate bonds issued by Changing Universe (CU). Each CU bond is a 4-year bond with a par value of $1 million. Its interest payments are based on the following schedule: $40,000 in year 1, $60,000 in year 2, $80,000 in year 3, and $100,000 in year 4. You estimate CU's current interest rate is 8%. What is the price of the bond? A.$1.01 million B. $1.06 millionO C. $0.88 million D. $0.96 million

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