The morrissey companys bonds mature in seven years have a, Ask an Expert

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The Morrissey Company's bonds mature in seven years, have a par value of $1,000, and make an annual coupon payment of $70. The market interest rate for the bonds is 8.5%. What is the bond's price?

a) $923.22

b) $946.30

c) $969.96

d) $994.21

e) $1,019.06

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9430197

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