Question

Grasshopper Inc issued 20 years, noncallable, 7.8% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest on these bonds is 5.5%. What is the current price of the bonds, given that they now have 19 years to maturity?
multiple choice answers to the question
a. 1,114.94
b. 1,165.62
c. 1.507.70
d. 1.266.98
e. 1,064.26
what is the correct answer

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