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Suppose that Generel Motors Acoptance Corponation issued a bond with 10 years until maturity, a tace value of $1.000, and a coupen rate of 7.3%

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Suppose that Generel Motors Acoptance Corponation issued a bond with 10 years until maturity, a tace value of $1.000, and a coupen rate of 7.3% (annual payments). The yield to maturity an this bond when to was lasued was 6.3\%, Assuming the yold to maturity remains constant, what is the ptice of the bond immediately belore it makes its first coupon payment? Balore the fint coupon payment, the price of the bond is 1 (Round to the nearest cent.)

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