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Assume that you are considering the purchase of a 20-year, noncallable bond with an annual coupon rate of 9.5%. The bond has a face value

Assume that you are considering the purchase of a 20-year, noncallable bond with an annual coupon rate of 9.5%. The bond has a face value of $1,000, and it makes semiannual interest payments. If you require an 7.0% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond? Oa. $1,013.55 O b. $1,026.22 c. $1,330.29 Od. $1,406.30 Oe. $1,266.94

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