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Mary buys a 10-year, 1,000 par value bond with 8% semiannual coupons. The price of the bond to earn a yield of 6% convertible semiannually

Mary buys a 10-year, 1,000 par value bond with 8% semiannual coupons. The price of the bond to earn a yield of 6% convertible semiannually is 1,204.15. The redemption value is more than the par value. Calculate the price Mary would have to pay for the same bond to yield 10% convertible semiannually. Show all work.

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