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A General Power bond carries a coupon rate of 9.4%, has 9 years until maturity, and sells at a yield to maturity of 8.4%. (Assume

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A General Power bond carries a coupon rate of 9.4%, has 9 years until maturity, and sells at a yield to maturity of 8.4%. (Assume annual interest payments.) a. What interest payments do bondholders receive each year? b. At what price does the bond sell? (Do not round intermediate calculations. Round your answer to 2 decimal places.) c. What will happen to the bond price if the yield to maturity falls to 7.4%? (Do not round intermediate calculations. Round your answer to 2 decimal places.) d. If the yield to maturity falls to 7.4%, will the current yield be less, or more than the yield to maturity? a. 94 $ $ b. Interest payments Price Price will Current yield is c. 1,061.44 by than yield to maturity d

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