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The Sisyphean Company has a bond outstanding with a face value of $ 1000 that reaches maturity in 15 years. The bond certificate indicates that
The Sisyphean Company has a bond outstanding with a face value of $ 1000 that reaches maturity in 15 years. The bond certificate indicates that the stated coupon rate for this bond is 9.8% and that the coupon payments are to be made semiannually. Assuming the appropriate YTM on the Sisyphean bond is 7.1%, then the price that this bond trades for will be closest to
A. $ 1496 B. $ 997 C. $ 1247 D. $ 1745
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