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please help with answer C. Thank you Midland Oil has $1,000 par value bonds outstanding at 16 percent interest. The bonds will mature in 20

image text in transcribedplease help with answer C. Thank you

Midland Oil has $1,000 par value bonds outstanding at 16 percent interest. The bonds will mature in 20 years. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. Compute the current price of the bonds if the present yield to maturity is: (Do not round intermediate calculations. Round your final answers to 2 decimal places. Assume interest payments are annual.) Bond Price a. $ 8 percent 14 percent 11 percent 1,785.45 1,132.46 b. $ C. 13.98.17 X

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