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THE 15 YEAR BONDS OF EDWARD'S MFG. HAVE A FACE VALUE OF $1,000, A 7.50 PERCENT COUPON, AND PAY INTEREST SEMI-ANNUALLY. WHAT IS ONE OF

THE 15 YEAR BONDS OF EDWARD'S MFG. HAVE A FACE VALUE OF $1,000, A 7.50 PERCENT COUPON, AND PAY INTEREST SEMI-ANNUALLY. WHAT IS ONE OF THESE BONDS WORTH TO YOU TODAY IF YOU REQUIRE A 12 PERCENT RATE OF RETURN?

A) $584.23

B) $690.29

C) $877.48

D) $911.63

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