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Darlyn Company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest payment of $65. The market requires
Darlyn Company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest payment of $65. The market requires an interest rate of 7.7% on these bonds. What is the bond's price?
| 1. | $865.13 | |
| 2. | $1,069.79 | |
| 3. | $762.80 | |
| 4. | $930.25 | |
| 5. | $1,097.69 |
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