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Question text What is the market value of a bond that will pay a total of 15 annual coupons of $100 each over the remainder

Question text

What is the market value of a bond that will pay a total of 15 annual coupons of $100 each over the remainder of its life? Assume the bond has a $1,000 face value and an 8%/year yield to maturity.

Select one:

a. $1,196.36

b. $1,192.07

c. $634.86

d. $1,135.90

e. 1,171.19

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