10. Tom is interested in investing some of his savings in corporate bonds. His financial planner has suggested the following bonds: Bond A has a 7% annual coupon, matures in 10 years, and has a $1,000 par value. Bond B has a 9% annual coupon, matures in 11 years, and has a $1,000 par value. Bond C has an 11% annual coupon, matures in 12 years, and has a $1,000 par value. Each bond has a yield to maturity of 9%.

a) Calculate the price of each of the three bonds.

b) If the yield to maturity for each bond remains at 9%, what will be the price of each bond 5 years from now?