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Summit Energy issued a 20-year 6.5% coupon bond in January of 2013. The bond makes semi-annual...

Summit Energy issued a 20-year 6.5% coupon bond in January of 2013. The bond makes semi-annual coupon payments and has a par value of $1,000. Calculate the bond’s price in January of 2020 if annual yield to maturity is 8.5%

A) 917.86

B) 844.44

C) 1087.31

D) 905.00

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