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4. A bond has a face value of $1,000. The bond's quoted price is 93.75. a) What is the bond's price in dollars? b) The

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4. A bond has a face value of $1,000. The bond's quoted price is 93.75. a) What is the bond's price in dollars? b) The bond has a coupon rate of 7%. Is the bond's yield to maturity higher or lower than its coupon rate? c) The bond makes annual coupon payments. The bond made its last coupon payment 30 days ago. If the bond is sold today, what is the accrued interest? (Use a 365-day year.)

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