7. The Morrissey Company’s bonds mature in 7 years, have a par value of $1,000, and make an annual coupon payment of $70. The market interest rate for the bonds is 8.5%. What is the bond’s price?, ,a. $923.22,b. $946.30,c. $969.96,d. $994.21,e. $1,019.06,,,
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