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  3. a bond pays annual coupon payments at a rate of 10

A bond pays annual coupon payments at a rate of 10%. The current yield to...

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Accounting

A bond pays annual coupon payments at a rate of 10%. The current yield to maturity is 12% and it matures at a par value of $1000 in exactly 20 years. What is
the current market price? [Choose Closest]
A. $1170.27
B. $850.61
C. $746.94
D. $1639.80
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