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Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 18 years Coupon rate: 7 percent Semiannual payments Calculate the price

Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 18 years Coupon rate: 7 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.) a. 7 percent b. 9 percent c. 5 percent

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