Question: Q3) Davis & Davis issued $1,000 par value bonds at $1020. The bonds pay 12% interest annually and mature in 30 years. The market rate

Q3) Davis & Davis issued $1,000 par value bonds at $1020. The bonds pay 12% interest annually and mature in 30 years. The market rate of interest is (round to the nearest hundredth of a percent): A) 12.00% B) 11.76%. C) 10.12%. D) 11.29%

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