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Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 21 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: 21 years |
| Coupon rate: 9 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. | 9 percent | $ |
| b. | 12 percent | $ |
| c. | 6 percent | $ |
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