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Assuming that the current market yield for similar risk bonds is 8%, determine thediscounted present value of a $ 1,000 bond with a 7.5% coupon

Assuming that the current market yield for similar risk bonds is 8%, determine thediscounted present value of a $ 1,000 bond with a 7.5% coupon rate, which pays interestsemiannually and matures in 17.5 years.

A.$504.68

B.$539.78

C.$953.34

D.$968.96

E.$994.26

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