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Ryngaert Inc

Question 87

Multiple Choice

Ryngaert Inc.recently issued noncallable bonds that mature in 15 years.They have a par value of $1,000 and an annual coupon of 5.7%.If the current market interest rate is 7.0%,at what price should the bonds sell?


A) $1,040.28
B) $802.25
C) $1,013.84
D) $775.81
E) $881.60

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