Master Craft Control Inc. has bonds that mature in 6 1/2 years with a par value of $1,000. They pay

a coupon rate of 9% with semiannual payments. If the required rate of return on these bonds is 11%
what is the bond's value?

A) $1,022.74 B) $908.83 C) $1,026.73 D) $973.76


B

Business

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