Please explain how you got your answer as well as each part. Including how you got the rate used in the calculation. Please show through formula and excel. Thank you! if correct answer then will thumbs up :) this is my second time posting this same question so if wrong ill thumbs down. sorry.

Only looking for part b also $1074.60 is the incorrect answer for part b

Suppose a seven-year, $1,000 bond with a 7.07% coupon rate and semiannual coupons is trading with a yield to maturity of 5.76%. a. Is this bond currently trading at a discount, at par, or at a premuim? Explain. b. If the yield to maturity of the bond rises to 6.62% (APR with semiannual compounding), at what price will the bond trade? a. Is this bond currently trading at a discount, at par, or at a premuim? Explain. The bond is currently trading... (Select the best choice below.) A. ... at a premium because the yield to maturity is greater than the coupon rate. B. ... at a discount because the coupon rate is greater than the yield to maturity C. ... at par because the coupon rate is equal to the yield to maturity D. ... at a premium because the coupon rate is greater than the yield to maturity b. If the yield to maturity of the bond rises to 6.62% (APR with semiannual compounding), at what price will the bond trade? The bond will trade for $. (Round to two decimal places.)