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Sam is considering investing in a bond, and found a prospect. It is a 10-year, $1,000 bond with a 11% coupon rate and semiannual coupons.

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Sam is considering investing in a bond, and found a prospect. It is a 10-year, $1,000 bond with a 11% coupon rate and semiannual coupons. It is currently trading for a price that implies the bond's value is $1,017.46. a. What is the bond's yield to maturity (YTM)? b. If the bond's YTM changes to 9%, what will the bond's price be (per $1,000 of face)? a. What is the bond's yield to maturity (YTM)? The YTM is %. (Round to two decimal places.) b. If the bond's YTM changes to 9%, what will the bond's price be (per $1,000 of face)? The price is $. (Round to the nearest cent.)

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