Question $2$

$50$ pts

What is the present value of a bond with four years left to maturity, with annual coupons of $6\%$ and has a face value of $$1,000,$ given that the yield$-$to$-$maturity $($YTM$)$ is $12\%?$

$$1,207\mathrm{.}91$

$$635\mathrm{.}52$

$$182\mathrm{.}24$

$$817\mathrm{.}76$

$$1,000$