Winburn Sports & Entertainment has an outstanding $1,000 par value bond with a 11% coupon that pays SEMIANNUALLY at the end of each period.The bond matures in nine years.Bonds of similar risk have a required return of 10%.What is the market value of the Winburn bond?
A) $1,035.54
B) $1,057.59
C) $1,058.45
D) $1,073.05
Correct Answer:
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