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Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 5 years Coupon rate: 8 percent Semiannual payments Calculate the price

Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 5 years Coupon rate: 8 percent Semiannual payments

Calculate the price of this bond if the YTM is: (Do not round intermediate calculations and round your final answers to 2 decimal places (e.g., 32.16).)

Price of the Bond

a. 8 percent

b. 10 percent

c. 6 percent

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