The bond is currently yielding-payments are made annually

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What is the current price of a 20-year 6% coupon bond that has 5 years left until maturity? The bond is currently yielding 8.4%. Payments are made annually.

a. $1,101.10

b. $905.18

c. $771.22

d. $885.27

Reference no: EM13810257

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