Problem $6-5$ Bond Pricing $($LO$1,2)$

A General Power bond carries a coupon rate of $9\mathrm{.}9\%,$ has $9$ years until maturity, and sells at a yield to maturity of $8\mathrm{.}9\%($Assume annual interest payments.$)$

a$.$ What interest payments do bondholders receive each year?

b$.$ At what price does the bond sell? $($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

c$.$ What will happen to the bond price if the yield to maturity falls to $7\mathrm{.}9\%?($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

d$.$ If the yield to maturity falls to $7\mathrm{.}9\%,$ will the current yield be less, or more, than the yield to maturity?

$\backslash$table$[[,,,],[$a$.,$Interest payments,$$,99,],[$b$.,$Price,,vdots,$],[$c$.,$Price will,rise,by$,],[$d$.,$Current yield is$,$more,than yield to maturity,$]]$