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Wine and Roses, Inc., offers a bond with a coupon of 8.0 percent with semiannual payments and a yield to maturity of 8.78 percent. The

Wine and Roses, Inc., offers a bond with a coupon of 8.0 percent with semiannual payments and a yield to maturity of 8.78 percent. The bonds mature in 5 years. What is the market price of a $1,000 face value bond?

multiple choice

  • $1,650.75

  • $1,318.23

  • $1,287.20

  • $968.97

  • $1,003.02

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