RRD Co.s 15-year bonds have an annual coupon rate of 7.75%. Each bond has a face value of $1,000 and makes annualinterest payments. If the
RRD Co.s 15-year bonds have an annual coupon rate of 7.75%. Each bond has a face value of $1,000 and makes annualinterest payments. If the prevailing interest rate on bonds of similar risk and maturity is 6.25%, what is the current market price of the bonds?
Group of answer choices
$1,143.33
$1,144.66
$868.32
$869.62
$1,198.99
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Authors: Othmar M. Lehner
1st Edition
1138343773, 978-1138343771
