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Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 12 years Coupon rate: 9 percent Semiannual payments Calculate the price

Microhard has issued a bond with the following characteristics:

Par: $1,000

Time to maturity: 12 years

Coupon rate: 9 percent

Semiannual payments

Calculate the price of this bond if the YTM is (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.)

		Price of the Bond
a.	9 percent	$
b.	11 percent	$
c.	7 percent	$

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