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jay aquire is considering the purchase of the following: a builtrite, $1000 par, 6 5/8% coupon rate, 15 year maturity bond which is currently selling

jay aquire is considering the purchase of the following: a builtrite, $1000 par, 6 5/8% coupon rate, 15 year maturity bond which is currently selling at $1020. if jays required return is 8%, what would he be willing to pay for the builtrite bond?

a. $840

b. $861

c. 882

d.$904

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