On Jan 1, ABC issues a bond with a face value of 1,000, 6% coupon, 3 year term, payable semi-annually each July 1 and Jan 1. The market requires a 4% return. What is the net book value of the bond reported on the balance sheet at the end of the third year? (rounded to the nearest dollar) 

a. $1,019 

b. $1,000 

c. $956 

d. $1056

Answer rating: 100% (QA)

Answer Payment Cash Flows Present Value 2 6 PV of Cash Flows 1 30 09804 29 2 30 09612 29 ... View the full answer