?Rick bought a bond when it was issued by Macroflex Corporation 14 years ago. The bond, which has a $1,000 face value and a coupon rate equal to 10 percent, matures in six years. Interest is paid every six months; the next interest payment is scheduled for six months from today. If the yield on similar risk investments is 14 percent, the current market value (price) of the bond is: (Round the answer to two decimal places.)
A. ?$841.15.
B. $1,238.28.?
C. $904.67.?
D. ?$757.26.
E. ?$844.45.
Answer: A
Business
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