Suppose you have a standard coupon bond with a principal value of $50,000 that matures in three years. The coupon rate is 4% and the coupon is paid annually with the first payment due 12 months from today.

A - If the yield to maturity (YTM) is 3%, what is the price of the bond today?

B - Suppose the price moves to $48,638.38. What is the new YTM?

C - Now suppose the original bond from part (a) pays coupon semi-annually instead of annually ($50,000 principal value, 4% coupon, matures in three years, first coupon payment due in 6 months). What is the price of this new bond?