Suppose a 10 -year, $ 1,000 bond with a 8% coupon rate and semiannual coupons is trading for a price of $1,182.04.
a. What is the bond's yield to maturity (expressed as an APR with semiannual compounding)?
b. If the bond's yield to maturity changes to 9% APR, what will the bond's price be?
(Round to two decimal places.)