One year ago Lerner and Luckmann Co, issued 15y year, noncallable, 6.8% annual coupon bonds...
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One year ago Lerner and Luckmann Co, issued 15y year, noncallable, 6.8% annual coupon bonds at their par value of $1,000, Today, the market interest rate on these bonds is 5.5%. What is the current price of the bonds, given that they now bave 14 years to maturity? Select the correct answer. a. 51,128.19 b. 51,124.67 c. $1,131,71 d. 51,135.23 e. 51,138.75
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