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A bond has a $1,000 par value, 20 years to maturity, and a 5% annual coupon and sells for $860. a. What is its yield

A bond has a $1,000 par value, 20 years to maturity, and a 5% annual coupon and sells for $860. a. What is its yield to maturity (YTM)? Round your answer to two decimal places. b. Assume that the yield to maturity remains constant for the next 3 years. What will the price be 3 years from today? Do not round intermediate calculations. Round your answer to the nearest cent. $

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