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The Sisyphean Company has a bond outstanding with a face value of $1 000 that reaches maturity in 15 years. The bond certificate indicates that the stated coupon rate for this bond is 8% and that the coupon payments are to be made semi-annually.
-Assuming the appropriate YTM on the Sisyphean bond is 9.0%, then the price that this bond trades for will be closest to:

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The bond's price is calculated using the present value of its future cash flows, which include semi-annual coupon payments and the face value at maturity. With a coupon rate of 8% and semi-annual payments, the coupon payment is $40. The bond's YTM of 9% implies a semi-annual discount rate of 4.5%. Using these values, the bond's price is closest to $919.

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