Question: A bond with a $10,000 par value has an 7.25% coupon rate. It will mature in 6 years, and coupon payments are made annually. Present

A bond with a $10,000 par value has an 7.25% coupon rate. It will mature in 6 years, and coupon payments are made annually. Present annual yields on similar bonds are 7.75%. What should the current price be?

a. 9,999.25

b. 9,946.28

c. 9,870.56

d. 9,848.72

e. 9,767.09

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