Problem:
Tightward Corporation issued a bond with a par value of 25000, 10 years to maturity semiannually, and a coupon rate of 5% the first 3 years, 8% the next 4 years adn 10% the las 3 years.
Required:
Question: If the yield to maturity is 10% semiannually. What is the current price of the bond?
Note: Explain in detail.