Question: Please provide the steps to solving this problem using a financial calculator as well as reasonings for certain steps if needed: You own a bond

Please provide the steps to solving this problem using a financial calculator as well as reasonings for certain steps if needed:

You own a bond with a par value of $1,000 and a coupon rate of 8.50% (semiannual coupon). You know it has a current yield of 7.00%. What is its yield to maturity? The bond has 6 years to maturity. Current Yield = (annual payment / price). (hint: solve for price to answer the question).

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