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Question
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) $1,026.73
B) $973.76
C) $1,022.74
D) $908.83
Answer
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