ABC Consultants has some bonds outstanding, currently with 10 years remaining to maturity. The coupon rate is 10%, and the interest is paid annually. The face value of the bonds is $10,000. What is the value of one bond if the yield to maturity is 12%?
a) $5,650.22
b) $3,702.69
c) $5,650.22
d) $8,869.96
e) $3,219.73