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Suppose an Exxon Corporation bond will pay $1,000 twenty years from now. If the going interest rate on safe 20-year bonds is 7.60%, how much

Suppose an Exxon Corporation bond will pay $1,000 twenty years from now. If the going interest rate on safe 20-year bonds is 7.60%, how much is the bond worth today?

a. $248.64

b. $231.08

c. $224.96

d. $214.75

e. $205.8

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