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Mr. Prudent has purchased a discount bond, that matures in 7 years with a payout of exactly $14,440. Assume that Mr. Prudent holds this bond

Mr. Prudent has purchased a discount bond, that matures in 7 years with a payout of exactly $14,440. Assume that Mr. Prudent holds this bond for 4 years and then sells it in a secondary market. If the interest rate is 9.3%, then what price does he sell it for?

A. $13,404.4

B. $12,874.2

C. $11,058.8

D. $10,117.8

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