(solution) A bond has a coupon rate of 10.4 percent and 2 years until

(solution) A bond has a coupon rate of 10.4 percent and 2 years until

A bond has a coupon rate of 10.4 percent and 2 years until maturity. If the yield to maturity is 9.8 percent, what is the price of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the “$” sign in your response.)

             

  Price of the bond $