Business, 22.02.2020 02:24 stina2021

Grossnickle Corporation issued 20-year, noncallable, 7.5% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 5.5%. What is the current price of the bonds, given that they now have 19 years to maturity?
a. $1,142.03
b. $1,201.35
c. $1,113.48
d. $1,232.15
e. $1,171.32

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