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QUESTION
Company A has issued 15-year coupon bonds with a face value of $1,000 and a 6.75 percent coupon rate. The bonds pay annually. How much would you pay...
Company A has issued 15-year coupon bonds with a face value of $1,000 and a 6.75 percent coupon rate. The bonds pay annually. How much would you pay for one of these bonds if you require a 7.5 percent yield to maturity?
A.$933.80
B.$927.40
C.$1,066.20
D.$1,072.60
