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Sunrise Industries Incorporated issued 10-year bonds five years ago with a coupon rate of 6.0% APR. The bonds pay semi-annual coupons, have a face value
Sunrise Industries Incorporated issued 10-year bonds five years ago with a coupon rate of 6.0% APR. The bonds pay semi-annual coupons, have a face value of $1,000 each and were issued at par value. What is the price of the bonds today if investors want a 7.0% APR return for bonds of similar risk and maturity? a) $945.47 b) $940.15
c) $958.42
d) $972.61
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