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11. A newly issued 10-year bond with a face value of $1,250 is trading at $1, 437.0. Its coupons are paid quarterly, and the

11. A newly issued 10-year bond with a face value of $1,250 is trading at $1, 437.0. Its coupons are paid quarterly, and the yield rate is 6%. After 3 years, the yield rate drops to 5.4%, what should the corresponding bond price be at that time? a) 1433.2 b) 1438.4 c) 1440.3 d) 1443. 2

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