An annual bond has a face value of $1,000, makes an annual coupon payment of $25 per year, has a discount rate per year of 9.0%, and has 8 years to maturity. Calculate the bond price in three equivalent ways. First, calculate the bond price as the present value of the bonds cash flows the long way Second, use a formula for the bond price. Third, use Excels PV function for a bond price.