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A 5-year, $1,000 face bond with a 3.5% coupon, paid annually, is currently selling with a 4% YTM (yield to maturity). What is the purchase

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A 5-year, $1,000 face bond with a 3.5% coupon, paid annually, is currently selling with a 4% YTM (yield to maturity). What is the purchase price of the bond? Select one: a. $924.88 b. $955.48 X C. $977.74 d. $1,000.00 e. $1,024.13

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