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J&J Inc. just issued a bond with a $1,000 face value and a coupon rate of 7%. If the bond has a life of 30

J&J Inc. just issued a bond with a $1,000 face value and a coupon rate of 7%. If the bond has a life of 30 years, pays annual coupons, and the YTM is 6.6%, what will the bond sell for?

a. $ 975.18

b. $1,000.00

c. $1,025.32

d. $1,051.70

e. $1,111.81

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