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What should be the price of a $1,000 par bond with a 3.8% annual coupon and 11 years to maturity with a required return of
What should be the price of a $1,000 par bond with a 3.8% annual coupon and 11 years to maturity with a required return of 7.2%?
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A. $744.66
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B. $743.18
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C. $747.57
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D. $1,030.04
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