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Money-for-Nothing Title Pawn Inc. has outstanding bonds which mature in 10 years. The coupon rate is 6,25%, paid semiannually, and they have a par value

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Money-for-Nothing Title Pawn Inc. has outstanding bonds which mature in 10 years. The coupon rate is 6,25%, paid semiannually, and they have a par value of $1,000. If bonds of similar risk are yielding 4.75%, what is the most an investor should be willing to pay for a bond? a) $1,000.00 b) $1,118.31 O c) $1,063.09 d) $1,090.35 O e) $1,174.93

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