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Company I issued R100 par value bonds with a coupon rate of 15% which will mature in 5 years time. The YTM on the bonds

Company I issued R100 par value bonds with a coupon rate of 15% which will mature in 5 years time. The YTM on the bonds are 11%. What would the bond sell for in the present?

Choose the most correct answer.

a. R100

b. R111

c. R115

d. R123

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