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You own a bond that matures in fifteen years. When you purchased it the coupon payments were 12% paid annually. Currently similar bonds return 11%

You own a bond that matures in fifteen years. When you purchased it the coupon payments were 12% paid annually. Currently similar bonds return 11% annually. What is the value of your bond in today's market?

A. $1,189.54

B. $1,071.91

C. $956.39

D. $754.33

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