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Use the bond term's below to answer the question Maturity 7 years Coupon Rate 4% Face value $1,000 Annual Coupons YTM 3% (interest rate) Assuming

Use the bond term's below to answer the question Maturity 7 years Coupon Rate 4% Face value $1,000 Annual Coupons YTM 3% (interest rate) Assuming the YTM remains constant throughout the bond's life, what is the bond's price in year 2 ?

Group of answer choices

$1,062.30

$1,025.29

$1,045.80

$1,083.55

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