Moerdyk Corporation's bonds have a 15-year maturity,a 7.25% semiannual coupon,and a par value of $1,000.The going interest rate (rd) is 5.00%,based on semiannual compounding.What is the bond's price?
A) $1,235.47
B) $976.02
C) $1,457.85
D) $1,050.15
E) $1,359.01
Correct Answer:
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