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Bond prices and yieldsAssume that the Financial Management Corporation's $1,000-par-value bond has a 7.900% coupon, matures on May 15, 2023, has a current price quote

Bond prices and yieldsAssume that the Financial Management Corporation's $1,000-par-value bond has a 7.900% coupon, matures on May 15, 2023, has a current price quote of 93.044 and a yield to maturity (YTM) of 8.924%. Given this information, answer the following questions:

a.What is the dollar price of the bond?

b.What is the bond's current yield?

c.Is the bond selling at par, at a discount, or at apremium? Why?

d.Compare the bond's current yield calculated in part b to its YTM and explain why they differ.

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