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The Rise Company has a bond outstanding with a face value of $ 1,000 that reaches maturity in 8 years. The bond certificate indicates that

The Rise Company has a bond outstanding with a face value of $ 1,000 that reaches maturity in 8 years. The bond certificate indicates that the stated coupon rate for this bond is 9.1% and that the coupon payments are to be made semiannually. Assuming the appropriate YTM on the Rise bond is 7.5%, then the price that this bond trades for will be closest to:

a. 1095

b. 1314

c.1533

d.876

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