Use the Information for the Question(s)below

question 89

Multiple Choice

Use the information for the question(s) below.
The Sisyphean Company has a bond outstanding with a face value of $1 000 that reaches maturity in 15 years. The bond certificate indicates that the stated coupon rate for this bond is 8% and that the coupon payments are to be made semi-annually.
-Assuming the appropriate YTM on the Sisyphean bond is 7.5%, then the price that this bond trades for will be closest to:

• A)$1 045
• B)$1 000
• C)$691
• D)$957

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