Market interest rate on these bonds

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Reference no: EM13890338

Crossdyme Corporation issued 30-year, noncallable, 8.5% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 10%. What is the current price of the bonds, given that they now have 29 years to maturity?

$1,161.20

$1,159.90

$858.60

$859.46

$1,000.00

Reference no: EM13890338

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