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Assume that a $1,500,000 par value, semiannual coupon Irvine municipal bond with 30 years to maturity has a coupon rate of 1.5%. The yield to

Assume that a $1,500,000 par value, semiannual coupon Irvine municipal bond with 30 years to maturity has a coupon rate of 1.5%. The yield to maturity of the bond is 1.5%. Calculate the price of the municipal bond.

Group of answer choices

$1,400,000

$1,434,000

$1,500,000

$1,655,400

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