A General Power bond carries a coupon rate of 9.8%, has 9 years until maturity, and sells at a yield to maturity of 8.8%. (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 7.8%?(Do not round intermediate calculations. Round your answer to 2 decimal places.) Will it rise or fall? By how much?

d.If the yield to maturity falls to 7.8%, will the current yield be less, or more, than the yield to maturity?