Question: If a $ 1 0 0 0 par value bond has an 8 % coupon ( annual payments ) rate, a 4 - year maturity,

If a $1000 par value bond has an 8% coupon (annual payments) rate, a 4-year maturity, and the market interest rate is 11%, what is the price of the bond?
A. $1,000.00
B. $880.22
C. $906.93
D. $910.35

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