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An investor is considering the purchase of Security X, which matures in ten years and has a par value of $1,000. During the first five

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An investor is considering the purchase of Security X, which matures in ten years and has a par value of $1,000. During the first five years, X has a 6coupon with quarterly payments. During the remaining five years; X has an 8 coupon with quarterly payments. The face value % is paid at maturity. A second 10-year security, Security Z, has a 6% semiannual coupon and is selling at par. Assuming that X has the same bond equivalent yield as Z, the price of Security X is closest to: A. $943 B. $1,036. C. $1,067

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