Morin Company's bonds mature in 8 years,have a par value of $1,000,and make an annual coupon interest payment of $65.The market requires an interest rate of 6.1% on these bonds.What is the bond's price?
A) $1,024.74
B) $1,147.71
C) $1,116.97
D) $1,096.47
E) $1,280.93
Correct Answer:
Verified
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