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A bond has a $1,000 par value, 8 years to maturity, and a 7% annual coupon and sells for $980. What is its yield to

A bond has a $1,000 par value, 8 years to maturity, and a 7% annual coupon and sells for $980. What is its yield to maturity (YTM)? Round your answer to two decimal places. % Assume that the yield 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. $

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