Question: Last year, Avalanche Auto Sales issued 2 0 - year bonds with an 4 % coupon and semiannual interest payments. What is the market price

Last year, Avalanche Auto Sales issued 20-year bonds with an 4% coupon and semiannual interest payments. What is the market price of a $1,000 bond if the yield to maturity is 3.8%?
Multiple Choice:
$1,028.05
$972.64
$1,027.84
$1,027.67
$1,584.67

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