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You'd like to buy a 2 5 - year, noncallable bond with an annual coupon rate of 8 . 4 % paid semi - annually.

You'd like to buy a 25-year, noncallable bond with an annual coupon rate of 8.4% paid semi-annually. The bond has a par value of $1,000. If you require an 6.35% nominal yield to maturity on this investment, what should you be willing to pay for the bond?
O a. $1044.66
b. $1071.34
O c. $1255.19
d. $1012.53
0 e. $1184.27

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