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Junk Corp. ' s high - yield bond has the following features: Principal $ 1 , 0 0 0 Coupon 1 0 % Maturity 1

Junk Corp.'s high-yield bond has the following features:
Principal $1,000
Coupon 10%
Maturity 10 years
Special features: Callable at the end of 5 years
If interest rates are currently 9 percent on comparable high-yield securities and are not expected to change. What is the price of the bond? (Hint you have to consider & determine based on interest rates what Junk Corp as the Issuer will do with this bond).

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