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Find the present value of a 3-year bond that pays an annual coupon, has a coupon rate of 6 percent, a yield to maturity of

Find the present value of a 3-year bond that pays an annual coupon, has a coupon rate of 6 percent, a yield to maturity of 5 percent, a par value of 1,000 when the yield to maturity is 5 percent.

a. 1,018.81

b. 1,027.23

c. 1,099.96

d. none of the options

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