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Company A plans to issue a 1 0 % coupon rate, 1 5 year, $ 5 0 0 , 0 0 0 face value bonds

Company A plans to issue a 10% coupon rate, 15 year, $500,000 face value bonds that pay interest semiannually. Assume that the market interest rate for the bonds is 8% on the date of issue. The price of the bond is:
A. $460,586
B. $640,580
C. $286,640
D. $586,460
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