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The Sisyphean Company has a bond outstanding with a face value of $1,000 that reaches maturity in 8 years. The bond certificate indicates that the
The Sisyphean 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 8.6% and that the coupon payments are to be made semiannually. Assuming the appropriate YTM on the Sisyphean bond is 7.8%, then the price that this bond trades for will be closest to:
A.$838
B.$1,466
C.$1,047
D.$1,256
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