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 is the present
Value of the bond's face value?
A) $138.95
B) $241.15
C) $886.37
D) $1,000.00
E) $1,025.32
Correct Answer:
Verified
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