1. An investor is considering purchasing a bond with a 7.89 percent coupon interest rate, a par value of $1,000, and a market price of $1019.06. the bond will mature in nine years. Based on this information, answer the following questions:
a. What is the bond’s current yield?
b. What is the bond's approximate yield to maturity?
c. What is the bond's yield to maturity using a financial calculator?