Problem 6-5 Bond Pricing (LO1, 2) A General Power bond carries a coupon rate of 8.8%, has 9 years until maturity, and sells at a yield to maturity of 7.8%. (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 6.8%? (Do not round intermediate calculations. Round your answer to 2 decimal places.) d. If the yield to maturity falls to 6.8%, will the current yield be less, or more, than the yield to maturity? a. Interest payments Price b C Price will by than yield to maturity d. Current yield is rise fall