Bastion Corporation issued $100 million bonds that mature in 30 years and have a 5% coupon rate that is paid annually. If the bonds were sold to yield 5.4%, determine the price of the bonds at the
End of year 5.
A) $94,581,667
B) $95,500,206
C) $95,958,151
D) $97,606,824
E) $98,287,192
Correct Answer:
Verified
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