J&J Manufacturing just issued a bond with a $1,000 face value and a coupon rate of 7%. If the bond has a life of 30 years, pays annual coupons, and the yield to maturity is 6.8%, what will the bond sell for?
A) $975.18
B) $1,000.00
C) $1,025.32
D) $1,087.25
E) $1,111.81
Correct Answer:
Verified
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