What is the value of a 22-year, bond with an annual coupon rate of 9.2%, but making semiannual interest payments? The bond has a face value of $1,000, and you require an annual 8.2% discount rate for this investment.
- $1,105.69
- $1,089.52
- $1,092.80
- $1,097.90
- $1,101.14