You have the opportunity to purchase a 26 -year, $1 , 000 par value bond that has an annual coupon rate of 9% . If you require a YTM of 8.8% , how much is the bond worth to you? The price of the bond is (Round to the nearest cent.) .

1. You have the opportunity to purchase a 26 -year, $1 , 000 par value bond that has an annual
coupon rate of 9% . If you require a YTM of 8.8% , how much is the bond worth to you? The
price of the bond is (Round to the nearest cent.)