Wine and Roses Incorporated, offers a bond with a coupon of 7.0 percent with semiannual payments and a yield to maturity of 7.75 percent. The bonds mature in 14 years. What is the market price of a $1,000 face value bond?
Multiple Choice
$1,591.70
$936.60
$1,528.31
$1,090.46
$1,344.90