P6-11: Bond prices and yieldsAssume that the Financial Management Corporation's $1,000-par-value bond had a 5.700% coupon, matured on May 15, 2020,...

P6-11: Bond prices and yieldsAssume that the Financial Management Corporation's $1,000-par-value bond had a 5.700% coupon, matured on May 15, 2020, had a given current price quote of 97.708, and had a yield to maturity (YTM) of 6.034%. Given this information, answer the following questions:a. What was the dollar price of the bond?b. What is the bond's current yield?c. Is the bond selling at par, at a discount, or at a premium? Why?d. Compare the bond's current yield calculated in part b to its YTM and explain why they differ