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Calculate the market value of a 20-year, $100,000 City of New York bond that has six years remaining to maturity, a coupon rate of 11%

Calculate the market value of a 20-year, $100,000 City of New York bond that has six years remaining to maturity, a coupon rate of 11% and is trading today at a yield rate of 8.2% (compounded semiannually). Select one: a. $113,063 b. $80,230 c. $123,062 d. $95,214 e. $87,934

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