Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 16 years Coupon rate: 12 percent Semiannual payments Calculate the price of this bond if the YTM is: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Price of the Bond

a.12 percent$

b.15 percent$

c.9 percent$