What is the value of a bond that has a par value of 1000 a, Financial Management

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What is the value of a bond that has a par value of 1000 a

Question

What is the value of a bond that has a par value of $1,000, a coupon rate of 10.96 percent (paid annually), and that matures in 22 years?

Assume a required rate of return on this bond is 10.10 percent. Round the answer to two decimal places.

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Financial Management: What is the value of a bond that has a par value of 1000 a

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Financial Management: What is the value of a bond that has a par value of 1000 a

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