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You buy an eight-year bond that has a 6% current yield and a 6% coupon (paid annually). In one year, promised yields to maturity have

You buy an eight-year bond that has a 6% current yield and a 6% coupon (paid annually). In one year, promised yields to maturity have risen to 7%. Answer the question below based on this information. What is the current price of the bond?

a. 930

b. 940

c. 1060

d. 1000

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