Question: A bond with face value $ 1 , 0 0 0 has a current yield of 7 . 1 % and a coupon rate of

A bond with face value $1,000 has a current yield of 7.1% and a coupon rate of 9.1%.
If interest is paid annually, what is the bonds price?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
If the bond is selling at $959, is its yield to maturity more or less than 9.1%?

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