Answered

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Hello Cat Corporation has bonds with 20 years left until maturity, with a 7% annual coupon and a par value of $1,000. The yield-to-maturity on these bonds is 6.3%. What is the current price of the bonds?
A. $1,114.70
B. $1,078.37
C. $1,043.73
D. $1,010.68
E. $979.14
F. $949.03
G. $920.27
H. $901.82

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