Emma Bonds have 14 years to maturity, with a coupon rate

| March 14, 2016

Emma Bonds have 14 years to maturity, with a coupon rate of 8%, paid ANNUALLY; if the appropriate discount rate is 6% what is the current value of Emma Bonds?
a. $1,185.90
b. $1,060.22
c. $1,180.22
d. $1,080.00

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