Final Answer:
Based on the information provided for Friday, January 16th, the closing price of MMSCorp11s18 bonds was 90 + 1/2. Therefore, the closing price of MMS Corp bonds on Thursday, January 15th, would be the same, which is 90 (Option B).
Step-by-step explanation:
On Thursday, January 15th, the closing price for MMSCorp11s18 bonds can be derived from the information provided for Friday, January 16th. On Friday, these bonds closed at 90 + 1/2. The notation "90 + 1/2" indicates a price of 90 plus half of a point. In the bond market, a price change of 1/2 refers to a movement of 50 cents per bond.
Therefore, the previous day's closing price would have been 90 - 1/2, or 89 1/2. Bond prices often fluctuate by fractions or points, and understanding these notations helps track their daily changes. In this case, working backward from the given Friday price of 90 + 1/2, the price on Thursday, January 15th, for MMSCorp11s18 bonds was 89 1/2.
Correct answer: b. 90