Question $24$

$3$ pts

Moerdyk Corporation's bonds have a $15-$year maturity, a $7\mathrm{.}25\%$ semiannual coupon, and a par value of $$1,000.$ The going interest rate $(r_d)$ is $5\mathrm{.}00\%,$ based on semiannual compounding. What is the bond's price?

$$1,359\mathrm{.}01$

$$1,050\mathrm{.}15$

$$1,235\mathrm{.}47$

$$1,457\mathrm{.}85$

$$976\mathrm{.}02$