
Dexter Mills issued 20-year bonds one year ago at a coupon rate of 10.2 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM is 8.2 percent, what is the current bond price?
A) $985.55
B) $991.90
C) $1,142.16
D) $1,190.93
E) $1,098.00
Correct Answer:
Verified
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