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Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 23 years Coupon rate: 11 percent Semiannual payments Calculate the price

Microhard has issued a bond with the following characteristics:

Par: $1,000

Time to maturity: 23 years

Coupon rate: 11 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

b. 14 percent $

c. 8 percent $

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