Question: A bond with face value $1,000 has a current yield of 7.4% and a coupon rate of 9.4%. a. If interest is paid annually, what

A bond with face value $1,000 has a current yield of 7.4% and a coupon rate of 9.4%. a. If interest is paid annually, what is the bond's price? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b. If the bond is selling at $956, is its yield to maturity more or less than 9.4%? a. Bond price b. Is its yield to maturity more or less than 9.4%

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