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Suppose a 10-year, $1,000 bond with an 8.4% coupon rate and semi-annual coupons is trading for a price of $1,035.29. a. What is the bond's

Suppose a 10-year, $1,000 bond with an 8.4% coupon rate and semi-annual coupons is trading for a price of

$1,035.29.

a. What is the bond's yield to maturity (expressed as an APR with semi-annual compounding)? (round to 2 decimal places)

b. If the bond's yield to maturity changes to 9.7% APR, what will the bond's price be? (round to the nearest cent)

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