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(1 point) (Exercise 6.26) A $1000 par value 5% bond with semiannual coupons matures at the end of 10 years. The bond is callable at
(1 point) (Exercise 6.26) A $1000 par value 5% bond with semiannual coupons matures at the end of 10 years. The bond is callable at $1024 at the ends of years 4 through 6 , at $1012 at the ends of years 7 through 9 . and at $1000 at the end of year 10. Find the maximum price that an investor can pay and still be certain of a yield rate of 8% convertible semiannually. ANSWER =$
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