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Red Mountain, Inc. bonds have a face value of $1,000. The bonds carry a 7 percent coupon, pay interest semiannual, and mature in 13.5 years.

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Red Mountain, Inc. bonds have a face value of $1,000. The bonds carry a 7 percent coupon, pay interest semiannual, and mature in 13.5 years. What is the current price of these bonds if the yield to maturity is 6.82 percent? $989.50 $994.56 $1, 015.72 $1.018.27 $1, 020.00

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