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Bond A has a coupon rate of 10.81 percent, a yield-to-maturity of 14.45 percent, and a face value of $1,000.00; matures in 8 years; and

Bond A has a coupon rate of 10.81 percent, a yield-to-maturity of 14.45 percent, and a face value of $1,000.00; matures in 8 years; and pays coupons annually with the next coupon expected in 1 year. What is (X + Y + Z) if X is the present value of any coupon payments expected to be made in 3 years from today, Y is the present value of any coupon payments expected to be made in 6 years from today, and Z is the present value of any coupon payments expected to be made in 9 years from today?

A.

An amount equal to or greater than $136.25 but less than $154.61

B.

An amount equal to or greater than $154.61 but less than $186.54

C.

An amount equal to or greater than $90.15 but less than $136.25

D.

An amount equal to or greater than $186.54 but less than $245.78

E.

An amount less than $90.15 or a rate greater than $245.78

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