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can you please explain why the answer is option E A bond with a coupon rate of 8 percent that pays annual interest and matures

can you please explain why the answer is option E
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A bond with a coupon rate of 8 percent that pays annual interest and matures in eight years. The market rate of return on bonds of this risk is currently 11 percent. What is the value of a $1,000 face value bond at end of year 2? a $856.16 b. 5843.07 0 $849.44 d. $893.30 e. $873.08

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