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Randy Harris is contemplating whether to add a bond to his portfolio. It is a semiannual, 6.5% bond with 7 years to maturity. He is concerned about the change in value due to interest rate fluctuations and would like to know the bond’s value given various scenarios. At a yield to maturity of 7.5% or 5.0%, the bond’s fair value is closest to:
A.
B.
C.
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