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Eight years ago, Scotch Barrels Co. issued a 20-year, 5.5% coupon bond with annual interest payments. Its yield to maturity is 7.3%, and its face
Eight years ago, Scotch Barrels Co. issued a 20-year, 5.5% coupon bond with annual interest payments. Its yield to maturity is 7.3%, and its face value is $1,000. What is the market price of this bond?
- $813.67
- $893.76
- $926.11
- $859.29
- $752.83
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