ALINKO Inc. bonds have a $1,000 face value. The promised annual coupon is $71.00 . The bonds mature in 10 yrs. There are 10 coupon payments of $71.00 each starting a year from now, and the last payment 10 yrs from now is coupon plus face.
The market's required return for these bonds is 8%.
What is the price of these bonds?