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If a bond has an 8 % coupon (annual payments) rate,5-year maturity, and similar bonds are selling for an 9 % yield, what is the

If a bond has an 8 % coupon (annual payments) rate,5-year maturity, and similar bonds are selling for an 9 % yield, what is the price of the bond?

A. $1,000.00

B. $ 961.10

C. $ 906.93

D. $ 880.22

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