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Suppose a bond pays annual coupon of $60 for 10 years and $1,000 par value at the tenth year (maturity), and suppose the required rate

Suppose a bond pays annual coupon of $60 for 10 years and $1,000 par value at the tenth year (maturity), and suppose the required rate of return for the bond (discount rate) is 6%, what is the bond's value?

A. 885

B. 1,000

C. 800

D. 1,200

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