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12. If a bond has an 8 percent coupon (annual payments) rate, a 4 -year maturity, and similar bonds are selling for an 11 percent

12. If a bond has an 8 percent coupon (annual payments) rate, a 4 -year maturity, and similar bonds are selling for an 11 percent yield (YTM), what is the price of the bond? (6 POINT) A. $1,000.00 B. $880.22 C. $906.92 D. $910.35 E. $1,250.00

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