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2 times a year, a corporate bond you own pays a coupon of $93. Each of the 9 certificates you own cost you $1,000 when
2 times a year, a corporate bond you own pays a coupon of $93. Each of the 9 certificates you own cost you $1,000 when you bought them at par at the time of issuance. The bond issuer has just paid the latest coupon and the bond still has another 17 years to run before it matures. Your bond dealer tells you this bond is now priced to yield 11.63%. What is the current value of your investment in these bonds? Report your answer with 2-digit precision (ex. 12.34).
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