Two year ago lerner co issued bonds with a maturity of, Financial Management

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Two year ago lerner co issued bonds with a maturity of

Two year ago Lerner Co. issued bonds with a maturity of 15-year, a coupon rate of 8% paid semi-annually, and a par value of $1,000. Today, the market interest rate on these bonds is 6%. What is the expected price of the bonds today? Select one: a. $1,178.77 b. $1,190.55 c. $1,228.63 d. $1,211.96 e. $1,200.97.

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