Penny Inc. bonds have an annual coupon rate of 9 percent. The interest is paid semiannually, and the bonds mature in 11 years. Their par value is $1,000. If you required rate of return is 16 percent, what is the value of the bond? A. $308.69 B. $642.97 C. $750.13 D. $905.57 E. $1,482.45 Which one of the following bonds has the greatest interest rate risk, that is, which one will fluctuate more if there is a change in the level of general interest rates in the market? A. 3-year; 4 percent coupon B. 3-year, 6 percent coupon C. 5-year, 6 percent coupon D. 7-year, 6 percent coupon E. 7-year, 4 percent coupon The interest on corporate bonds is typically paid: A. quarterly. B. monthly. C. annually D. semiannually. According to the payback rule, a project is acceptable when the payback period is: A. less than or equal to the discounted period B. equal to or greater than the prespecified payback period. C. positive and equal to or greater than the prespecified payback period. D. either negative or equal to zero. E. is less than or equal to the prespecified payback period