Question: Consider a bond, which pays 7% semiannually and has 8 years to maturity. The market requires an interest rate of 8% on bonds of this

Consider a bond, which pays 7% semiannually and has 8 years to maturity. The market requires an interest rate of 8% on bonds of this risk. What is this bond's price?

A. $ 942.50

B. $ 911.52

C. $ 941.74

D. $1,064.81

E. None of the above.

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