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Moerdyk Corporation's Bonds Have a 15-Year Maturity, a 7

Question 69

Multiple Choice

Moerdyk Corporation's bonds have a 15-year maturity, a 7.25% semiannual coupon, and a par value of $1,000. The going interest rate (rd) is 6.20%, based on semiannual compounding. What is the bond's price?


A) $1,047.19
B) $1,074.05
C) $1,101.58
D) $1,129.12
E) $1,157.35

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