Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 5 years Coupon rate: 8 percent Semiannual payments
Calculate the price of this bond if the YTM is: (Do not round intermediate calculations and round your final answers to 2 decimal places (e.g., 32.16).)
Price of the Bond
a. 8 percent
b. 10 percent
c. 6 percent