A company issues a ten-year bond at par with a coupon rate of 6% paid semi-annually.The YTM at the beginning of the third year of the bond (8 years left to maturity) is 7.8%.What is the new price of the bond?
A) $894.35
B) $569.65
C) $722.06
D) $1,000.00
Correct Answer:
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