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Assume that you are considering the purchase of a 15-year, noncallable bond with an annual coupon rate of 9.8%. The bond has a face value

Assume that you are considering the purchase of a 15-year, noncallable bond with an annual coupon rate of 9.8%. The bond has a face value of $1,000, and it makes semiannual interest payments. If you require a 12.9% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond? a. $838.02 b. $480.33 c. $796.54 d. $766.00 e. $853.79

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