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 7 percent paid annually. If the yield to maturity is 11 percent, what is the current price of the bond? rev: Multiple Choice

1,030.00

1,219.57

$770.94

852.09

811.51