Suppose you recently paid $1000 for a new 30-year bond issued by the telecommunications company, verizon. the interest ("coupon") rate is 6 percent, and for the sake of simplicity, let’s assume that the $60 is paid once a year at the end of the year. given the 6 percent interest rate, the present value of the bond's face value of $1000 paid thirty years from now is approximately $175. what is the present value of the stream of thirty, annual $60 payments? you can calculate the answer or use a shortcut.

$1,000
$825
$700
$350
$140