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PRICE AND YIELD An 8% semiannual coupon bond matures in 6 years. The bond has a face value of $1,000 and a current yield of

PRICE AND YIELD

An 8% semiannual coupon bond matures in 6 years. The bond has a face value of $1,000 and a current yield of 8.4446%. What is the bond's price? Do not round intermediate calculations. Round your answer to the nearest cent. $ What is the bond's YTM? (Hint: Refer to Footnote 7 for the definition of the current yield and to Table 7.1.) Do not round intermediate calculations. Round your answers to two decimal places.

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