A 555 percent coupon bond with ten years left to maturity, Financial Management

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A 555 percent coupon bond with ten years left to maturity

A 5.55 percent coupon bond with ten years left to maturity is priced to offer a 7.0 percent yield to maturity. You believe that in one year, the yield to maturity will be 6.0 percent. What is the change in price the bond will experience in dollars? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Change in bond price $___________

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Financial Management: A 555 percent coupon bond with ten years left to maturity

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Financial Management: A 555 percent coupon bond with ten years left to maturity

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