National Trucking,Inc.,will issue 20-year,semiannual bonds with a 6.0% coupon rate and a $1,000 par value.Bonds of similar risk and maturity are currently selling to yield 5.20% in the market place.What is the market price of one of the firm's new bonds? Use a financial calculator to determine your answer.
A)$1,000.00
B)$1,124.72
C)$1,116.24
D)$1,098.74
Correct Answer:
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