Question: 2 Applied Software has a $1,000 par value bond outstanding that pays 13 percent interest with annual payments. The current yield to maturity on such

2 Applied Software has a $1,000 par value bond outstanding that pays 13 percent interest with annual payments. The current yield to maturity on such bonds in the market is 8 percent. Compute the price of the bonds for these maturity dates: (Use a Financial calculator to arrive at the answers. Do not round Intermediate calculations. Round the final answers to 2 decimal places.) 01:52:09 a. 40 years b. 25 years c. 6 years Price of the bond $ $

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