What is the value of a 10 percent annual coupon 1000 par
What is the value of a 10 percent annual coupon, $1,000 par value bond with 20 years to maturity if the required rate of return on the bond is 12 percent?
A: $1,236.48
B: $925.42
C: $850.61
D: $798.79
E: $737.55
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