McLaughlin Enterprises Has an Outstanding $1,000 Par Value Bond with a 11

question 41

Multiple Choice

McLaughlin Enterprises has an outstanding $1,000 par value bond with a 11% coupon that pays at the end of each year.The bond matures in nine years.Bonds of similar risk have a required return of 10%.What is the market value of the McLaughlin bond?

• A) $890.00
• B) $1,053.35
• C) $1,000.00
• D) $1,057.59

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