Two years ago ACME bonds were issued at par with 10 years until maturity and...

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Accounting

Two years ago ACME bonds were issued at par with 10 years until maturity and a 7% annual coupon.
If interest rates for that grade of bond are currently 8.25%, what will be the market price of
these bonds?
A. $917.06
B. $928.84
C. $987.50
D. $1,000.00

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