The Shamrock Corporation has just issued a Rs $1,000$ par value $8\%$ coupon bond with an $8$ percent yield to maturity, due to mature $3$ years from today.

a$)$ What would be the issue price of this bond?

b$)$ If the coupon rate was $8\%$ pa $($Rs $1,000$ par value,$3$ years to maturity$)$ and the bond was issued at Rs $940,$what would be the annual YTM$?($assume semiannual compounding$)$

c$)$ If the coupon rate was $8\%$ pa $($Rs $1,000$ par value,$3$ years to maturity$)$ and the annual YTM dropped to $7\%,$ how would the market price of the bond be affected $($assuming annual coupon payments$)?$ Explain.