Calculate decimals to four places.

15. You just purchased a 15-year bond with an 11% annual coupon. The bond has a face value of

$1,000 and a current yield of 10%. Assuming that the yield to maturity of 9.7072% remains constant,

what will be the price of the bond one year from now?

a. $1,000

b. $1,064

c. $1,097

d. $1,100

e. $1,150