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QUESTION
A 10-year maturity bond with a $1000 face value makes annual coupon payments and has a coupon rate of 7.5%. What is the bond's price if the bond's
A 10-year maturity bond with a $1000 face value makes annual coupon payments and has a coupon rate of 7.5%. What is the bond's price if the bond's yield to maturity is 12%?
A) $1000
B) $746
C) $830
D) 424
E) 1309
