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International Computing Machines (ICM) has outstanding bonds with a 10 percent coupon. The bonds have a par value of $1,000 and mature in 5 years.

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International Computing Machines (ICM) has outstanding bonds with a 10 percent coupon. The bonds have a par value of $1,000 and mature in 5 years. Current market interest rates are 8% for 5 year bonds of similar risk of ICM's. Based on this information, what would a prospective investor expect to pay for this bond today? a. 958.25 b. 1,000.00 c. 1,079.85 d. 1,252.63 e. 1,398.75

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