1. Price A $1000 par value bond will mature in 10 years. This bond pays a coupon of $90 every year. If investors require an annual return of 8%, what is the current price of this bond? Assume annual payments. A. $1,067.10 B. $1,207.19 C. $2,657.87 D. $1,023.58 2. Price You wish to purchase a 20-year bond that has a maturity value of $1000 and makes semi-annual interest payments of $40. If you require a 10% yield to maturity on this investment, what is the maximum price you would pay for the bond? A. $545.78 B. $828.41 C. $689.32 D. $478.12 3. Price A bond with a $1,000 par value pays a coupon of $40 every six months. The bond has 12 years until maturity and a required return of 8%. If the required return suddenly dropped to 6%, what would be the percentage change in the bond's price? A. 3.69 percent B. 25.78 percent C. 10.25 percent D. 16.94 percent