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 10 years. II. Greater than 5 years but less than 10 III. Less than 5 years

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