Moerdyk Corporation's bonds have a 15-year maturity,a 7.25% semiannual coupon,and a par value of $1,000.The going interest rate (rd) is 5.30%,based on semiannual compounding.What is the bond's price?
A) $1,200.05
B) $1,164.05
C) $948.04
D) $1,224.05
E) $1,500.06
Correct Answer:
Verified
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