Problem:
The Sisyphean Company has a bond outstanding with a face value of $1000 that reaches maturity in 15 years. The bond certificate indicates that the stated coupon rate for this bond is 8% and that the coupon payments are to be made semi-annually.
Assuming the appropriate YTM on the Sisyphean bond is 7.5%, then at what price should this bond trade for? What will the bond trade at?