Annual coupon bonds-what is the current price of the bonds

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Reference no: EM131014287

Grossnickle Corporation issued 20-year, noncallable, 8.1% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 5.5%. What is the current price of the bonds, given that they now have 19 years to maturity?

$1,132.57

$1,223.69

$1,301.80

$1,353.87

$1,314.82

Reference no: EM131014287

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