Question: Spotted Lantern Systems Co. plans to issue bonds with a par value of $1,000 and 30 years to maturity. These bonds will pay $35 interest

Spotted Lantern Systems Co. plans to issue bonds with a par value of $1,000 and 30 years to maturity. These bonds will pay $35 interest every semi-annual period. Current market conditions are such that the bonds will be sold at an annual yield to maturity (YTM) of 5%. What should be the selling price of the bond?

Group of answer choices

$1309.09

$769.41

$716.06

$1307.45

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