Five years ago Fairfield Farms Inc.issued 20 year semi-annual coupon bonds with a 9% annual coupon rate and a $1,000 face value.If the bonds currently carry a yield to maturity of 6%,what is the current price of a bond?
A)$1,346.72
B)$1,294.01
C)$1,344.10
D)$1,291.37

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The Answer of Five years ago Fairfield Farms Inc.issued 20 year semi-annual coupon bonds with a 9% annual coupon rate and a $1,000 face value.If the bonds currently carry a yield to maturity of 6%,what is the current price of a bond?
A)$1,346.72
B)$1,294.01
C)$1,344.10
D)$1,291.37

Five Years Ago Fairfield Farms Inc