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question 18 (Marks: 2 ) You purchase an elght-year corporate bond at issuance date that sells today at a premlum of $23 on its face

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question 18 (Marks: 2 ) You purchase an elght-year corporate bond at issuance date that sells today at a premlum of $23 on its face value of $1,000. The bond pays a $35 coupon once per year. You hold the bond for 2 years and sell It (Just after recelving the coupon interest) to earn a total return (Including the coupon payments) of 5.675% over the two-year holding perlod. What was the bond's price at the time you sold it? Assume other bonds with the same risk have a one-year yield of 2.8375%, which is also the adequate discount rate for ' your' bond. Select one: a. $1,081.06 b. $958.38 c. $985.76 d. $1,056.75 e. $1,010.06 f. $1,152.05 g. $1,103.44

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