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Use the bond term's below to answer the question Maturity 6 years Coupon Rate 3% Face value $1,000 Annual Coupons When you buy the bond

Use the bond term's below to answer the question Maturity 6 years Coupon Rate 3% Face value $1,000 Annual Coupons When you buy the bond the interest rate is 4% Right after you buy the bond, the interest rate changes from 4.00% to 2.75% and remains there. What is the price effect in year 5 ?

Group of answer choices

$12.57

$10.93

$9.93

$12.02

$13.22

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