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J&J Manufacturing 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 Manufacturing 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 yield to maturity is 6.8%, what% of the bond's total price is represented by the present value of the coupons?

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Multiple Choice 93.0% 86.1% O 85.7% O 86.4% 100.0% O

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