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Bobby Bobbins bond matures in 8 years. These are annual bonds with a 5.6% coupon rate. If the market requires an interest rate of 7%

Bobby Bobbins bond matures in 8 years. These are annual bonds with a 5.6% coupon rate. If the market requires an interest rate of 7% on these bonds, what is the bond's price?

A $916.40

B $928.62

C $972.48

D $913.04

E $948.16

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