A company issues a ten year bond at par with a coupon rate
A company issues a ten year bond at par with a coupon rate of $6.1% paid semi-annually. The YTM at the beginning of the third year of the bond (8 years left to maturity) is 8.7%. What is the new price of the bond?
A.$1,023 B.$1,193 C.$852 D.$1,000
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