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A bond that matures in 11 years has a $1000 par value. The annual coupon interest rate is 12 percent and the market's required yield

A bond that matures in 11 years has a $1000 par value. The annual coupon interest rate is 12 percent and the market's required yield to maturity on a comparable-risk bond is 13 percent. What would be the value of this bond if it paid interest annually? What would be the value of this bond if it paid interest semiannually? Question content area bottom Part 1 a.The value of this bond if it paid interest annually would be $ enter your response here. (Round to the nearest cent.)

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