Hampton Construction Inc. has issued 20-year semiannual coupon bonds with a face value of $1,000. If the annual coupon rate is 12% and the current yield to maturity is 10%, what is the firm's current price per bond?
A) $934.20
B) $1,000.00
C) $1,171.59
D) $1,362.74
Answer: C
Explanation: C) Bond Price = PMT × +
MODE = END, P/Y = 2, C/Y = 2
INPUT 40 10 ? -60 -1,000
KEY N I/Y PV PMT FV
CPT 1,171.59
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