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Based on the following information concerning a corporate bond: Par value: $1,000 Years to maturity: 15 years Coupon rate: = 8% paid semiannually Current interest rate: 11 What is the expected price of the bond in 5 years? Assume that the interest rate will remain the same as the current rate. Select one: a. 824.97 b. 812.09 c. 820.74 d. 816.23
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