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Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German company

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Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German company issues a bond with a par value of 1,000,7 years to maturity, and a coupon rate of 8 percent paid annually. If the yield to maturity is 11 percent, what is the current price of the bond? Multiple Choice $815.70 1,160,19 858.63 1,030.00 901.57

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