4. Valuing Bonds (20 points) Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 10 years Coupon Rate: 8 percent Annual payments a. Calculate the price of this bond if the YTM is 6 percent. b. Assume one year after the bond is issued, the market rate moves to 8 percent. What is the new price of the bond and what rate of return would an investor who bought the bond when it was originally issued and sold the bond at its market price at the end of one year