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A 12-year bond is being issued today with the following terms: Face value: $600,000 Annual coupon rate: 14% Market rate: 12% This is a conventional

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A 12-year bond is being issued today with the following terms: Face value: $600,000 Annual coupon rate: 14% Market rate: 12% This is a conventional bond which pays a semi-annual interest annuity. How much money will the company issuing this bond receive? (That is, what is the price of this bond?) $675,302 $600,000 $674,332 $531,184

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