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Question(s) / Instruction(s):

Grand Adventure Properties offers a 7 percent coupon bond with annual payments. The yield to maturity is 5.85 percent and the maturity date is 9 years from today. What is the market price of this bond if the face value is $1,000?

A.            $1078.73

B.            $1023.18

C.            $862.15

D.            $944.44

E.            $1089.65

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