Even though most corporate bonds in the United States make coupon payments

semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a

German company issues a bond with a par value of $1,000,8$ years to maturity, and a

coupon rate of $7$ percent paid annually. If the yield to maturity is $9$ percent, what is the

current price of the bond?

Multiple Choice

$1,123\mathrm{.}43$

$1,030\mathrm{.}00$

$933\mathrm{.}77$

$$844\mathrm{.}84$

$889\mathrm{.}30$