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You are considering purchasing a five-year A-rated Corporate Bond with a coupon of 2.5% paid annually, face value of $1,000. You observe that the market

You are considering purchasing a five-year A-rated Corporate Bond with a coupon of 2.5% paid annually, face value of $1,000. You observe that the market rate for A-rated Corporates is 2.28%. What is the maximum you should pay for this bond? Needed for credit: (1) Timeline, (2) Equations, (3) Calculator inputs, (4) Calculator-generated final answer to six decimal places.

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