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Consider a bond with an 8% annual coupon and a face value of $1,000. The bond has 9 years to maturity and the yield to

Consider a bond with an 8% annual coupon and a face value of $1,000. The bond has 9 years to maturity and the yield to maturity is 5%. What is the current price?

$961.10

$1000.00

$1,062.47

$1,213.23

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