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QUESTION 1 A firm in the petroleum industry has a bond that has a coupon rate of 4.25% (paid semi-annually), face value of $1000, and

QUESTION 1 A firm in the petroleum industry has a bond that has a coupon rate of 4.25% (paid semi-annually), face value of $1000, and 11 years to maturity. Analysts state that the yield- to-maturity on this bond is 6.48%. What should be the price of this bond? Report as a dollar value but without the dollar sign, i.e. if the price is $995.45 then report 995.45.

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