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Weismann Co. issued 11-year bonds a year ago at a coupon rate of 7 percent. The bonds make semiannual payments and have a par value

Weismann Co. issued 11-year bonds a year ago at a coupon rate of 7 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 12 percent, what is the current bond price?

Multiple Choice

  • $807.83

  • $739.55

  • $1,692.20

  • $713.25

  • $723.25

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