单选题 A company issued an annual-pay bond with a face value of $135662, maturity of 4 years, and 7.00 percent coupon, while the market interest rates are 8.00 percent. What is the present value of the interest payments on the date when the bonds are issued?

A、

A. $131164.
B、

B. $49857.
C、

C. $31453.

【正确答案】 C

【答案解析】Present value of the interest payments on the date of issue is $ 31453=[I/Y=8.00%, N=4, PMT=$9496.34 ($135662×0.07), FV=$0].