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You own a $1,000 par value bond with 20 years to maturity and a coupon rate of 11% interest. If the current yield is 12%,

You own a $1,000 par value bond with 20 years to maturity and a coupon rate of 11% interest. If the current yield is 12%, what is the value of the bond? The bond pays interest once per year.

Select one: A. $837 B. $892 C. $925 D. $980

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