Question: please solve steps by step using only calculator. 9. Your friend Barbara has a bond that she would like to sell to you. The bond

please solve steps by step using only calculator.

9. Your friend Barbara has a bond that she would like to sell to you. The bond matures in 10 years, has a face value of $1,000 and a coupon interest rate of 6% (paid annually). If you know that the yield to maturity on similar bonds is 8%, what is the maximum price you would be willing to pay for the bond? a $865.80 b. $940 C. $1000 d. $1,147 20

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