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What is the most we should pay for a bond with a par value of $1000, coupon rate of 9.6% paid annually, and a remaining

What is the most we should pay for a bond with a par value of $1000, coupon rate of 9.6% paid annually, and a remaining life of 16 years? The yield to maturity is 7.1%. Assume annual discounting. (Round your answer to the nearest penny.) Answer: 1197.51 X Check
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What is the most we should pay for a bond with a par value of $1000, coupon rate of 9.6% paid annually, and a remaining life of 16 years? The yield to maturity is 7.1%. Assume annual discounting. (Round your answer to the nearest penny.)

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