On January 1,2005 , Systil Corporation issues

$50M10

year bonds with a coupon rate of

10%

. Interest is payable annually at the end of the year. If the required return on bonds of similar risk at January 1,2006 is

8%

, what will be the price of the bonds be at this date?\

$43.86M

\

$44.24M

\

$56.25M

\

$56.71M

On January 1,2005 , Systil Corporation issues $50M10 year bonds with a coupon rate of 10%. Interest is payable annually at the end of the year. If the required return on bonds of similar risk at January 1,2006 is 8%, what will be the price of the bonds be at this date? $43.86M $44.24M $56.25M $56.71M