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Assume that you are considering the purchase of a 25 -year, noncallable bond with an annual coupon rate of 9.6%. The bond has a face

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Assume that you are considering the purchase of a 25 -year, noncallable bond with an annual coupon rate of 9.6%. The bond has a face value of $1,000, and it makes semiannual interest payments. If you require a 9.1% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond? a. 51,054,24 b. 51,091.82 c. $1,049.01 d. 5581.03 e. $1,036.88

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