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Gray Corporation offers a $ 1 , 0 0 0 face value, zero coupon bond with a yield to maturity of 1 1 . 3

Gray Corporation offers a $1,000 face value, zero coupon bond with a yield to maturity of 11.3 percent, given annual compounding. The bond matures in 16 years. What is the current price?
Multiple Choice
$192.18
$188.36
$178.78
$180.33
$190.09

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