Webley Corp. issued a $1,000 bond at a coupon rate of 12%. The bond has 30 years remaining, until maturity. Comparable bonds are yielding 8%. What should Webley's bond sell for today? (Round to nearest $)
A) $878
B) $932
C) $1,147
D) $1,381
E) $1,452
Correct Answer:
Verified
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