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A bond has a $1,000 par value, 12 years to maturity, and an 8% annual coupon and selis for $980. a. What is its yield

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A bond has a $1,000 par value, 12 years to maturity, and an 8% annual coupon and selis for $980. a. What is its yield to maturity (VTM)? Round your answer to two decimal places. b. Assume that the yieid to maturity remains constant for the next 5 years. What will the price be 5 years from today? Do not round intermediate calculations. Round your answer to the nearest cent. 5

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