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Coach Inc issues a 6 percent coupon bond with 8 years maturity and $1,000 face (par) value. If the yield to maturity of this bond

Coach Inc issues a 6 percent coupon bond with 8 years maturity and $1,000 face (par) value. If the yield to maturity of this bond is 8 percent, find the bond's price. Select one:

a. $885.07

b. $708.06

c. none of the answers is correct

d. $519.25

e. $778.87

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