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Applied Software has a $1.000 par value bond outstanding that pays 18 percent interest with annual payments. The current yield to maturity on such bonds

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Applied Software has a $1.000 par value bond outstanding that pays 18 percent interest with annual payments. The current yield to maturity on such bonds in the market is 11 percent. Compute the price of the bonds for these maturity dates: (Use a Financial calculator to arrive at the answers. Do not round Intermediate calculations. Round the final answers to 2 decimal places.) a. 30 years b. 17 years C. 2 years Price of the bond $ $ A A A $

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