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A bond has a $1,000 par value, 14 years to maturity, and pays a coupon of 8.25% per year, annually. You expect the bond's yield

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A bond has a $1,000 par value, 14 years to maturity, and pays a coupon of 8.25% per year, annually. You expect the bond's yield to maturity to be 7.0% per year in five years. If you plan to buy the bond today and sell it in five years, what is the most that you can pay for the bond and still earn at least a 9.0% per year return on your investment? O 1) $1,023.16 2) $973.56 3) $1,010.57 )$989.65 5) $1,003.89

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