What is the maximum price that you should be willing to pay, Financial Management

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What is the maximum price that you should be willing to pay

Assume that you wish to purchase a 18-year bond that has a maturity value of $1,000 and a coupon interest rate of 6%, paid semiannually. If you require a 8.84% rate of return on this investment (YTM), what is the maximum price that you should be willing to pay for this bond?

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Financial Management: What is the maximum price that you should be willing to pay

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Financial Management: What is the maximum price that you should be willing to pay

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