Trooper Corporation has a bond issue with a coupon rate of 10 percent per year and 5 years remaining until maturity. The par value of the bond is $1,000. What is the value of the bond when the going rate of interest is (a) 6 percent; (b) 10 percent; and (c) 12 percent? The bond pays interest annually.

Do not copy from Chegg and give complete answer with explanation