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Question 16 (1 point) A bond was issued three years ago at a price of $964 with a maturity of six years, a yield-to-maturity (YTM)

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Question 16 (1 point) A bond was issued three years ago at a price of $964 with a maturity of six years, a yield-to-maturity (YTM) of 8.50% compounded semi-annually, and a face value of $1,000 with semi-annualy coupons. What is the price of this bond today immediately after the receipt of today's coupon if the YTM has fallen to 7.25% compounded semi-annually? $937 $962 $987 $1,013 $1,038

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