a bond with a coupon rate of 8 percent that pays annual interest and m
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A bond with a coupon rate of 8 percent that pays annual interest and matures in eight years. The market rate of return on bonds of this risk is currently
11 percent. What is the value of a $1,000 face value bond at end of year 1? a. $858.64 b. $843.07 c. $830.58 d. $893.30