Question 5: Please show work. XYZ Corp.'s outstanding bonds have a $1,000 par value and they mature in 20 years. Their yield-to-maturity is 5%, annual coupon rate is 3%, and semi-annual compounding.

(a) What's the bond's current market price? (b) What is the bond's current yield? (c) If the Yield-to-maturity is 4%, what's the bond's current market price? (d) If the Yield-to-maturity is 4%, what is the bond's current yield?