Kessen Inc

question 90

Multiple Choice

Kessen Inc.'s bonds mature in 7 years, have a par value of $1,000, and make an annual coupon payment of $70.The market interest rate for the bonds is 8.5%.What is the bond's price?

• A) $923.22
• B) $946.30
• C) $969.96
• D) $994.21
• E) $1,019.06

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