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A 6% coupon semiannual bond was issued 4 years ago with an original maturity of 15 years. At the time of issue, the bond sold
A 6% coupon semiannual bond was issued 4 years ago with an original maturity of 15 years. At the time of issue, the bond sold at par. Today, the yield on this bond is 50 basis points higher than when it was issued. Find the current price of this bond. Assume a face value of $1000 per bond.
A. $1022.26
B. $982.63
C. $1050.00
D. $961.14
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