Bellingham bonds have an annual coupon rate of11 percent and a par value of $ 1000 and will mature in30 years. If you require a return of 15 percent, what price would you be willing to pay for the bond? What happens if you pay more for the bond? What happens if you pay less for the bond?

The price you would be willing to pay for the bond is $___

The bond is not an acceptable investment if you pay_____(more or less) for the bond because the expected rate of return for the bond is_____ (less or grater) than your required rate of return.