Question: Suppose you read that a bond with a face value of $1,000 and an annual coupon of $60 is currently priced in the market at

Suppose you read that a bond with a face value of $1,000 and an annual coupon of $60 is currently priced in the market at $1,000. If the current annual required return is 6%, what is the maturity of the bond?

I. Greater than 20 years. II. Greater than 10 years but less than 20 III. Less than 10 years

Group of answer choices

II only

I, II, or III may be correct

III only

Either I or II

I only

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