Question: A bond maturing in 15 years at a par value of $1,000 has a coupon rate of 6% and current yield of 8%. What is

A bond maturing in 15 years at a par value of $1,000 has a coupon rate of 6% and current yield of 8%. What is the price of the bond?

A. $827.08

B. $945.67

C. $1,000.00

D. $1,124.57

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