Kasey Corp. has a bond outstanding with a coupon rate of 5.5 percent and semiannual payments. The
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Question:
Kasey Corp. has a bond outstanding with a coupon rate of 5.5 percent and semiannual payments. The bond has a yield to maturity of 5.1 percent, a par value of $2,000, and matures in 20 years. What is the quoted price of the bond?
A. 2,099.57
B. 107.08
C. 110.23
D. 104.98
E. 1,051.40
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