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A coupon bond pays interest semi-annually, matures in 10 years, has a par value of $1,000, a coupon rate of 12%. Other bonds with similar
A coupon bond pays interest semi-annually, matures in 10 years, has a par value of $1,000, a coupon rate of 12%. Other bonds with similar risk in the market, pay an effective annual rate of 19% to their investors. What is the price the bond should sell for today? (Do not round your intermediate calculations. Round the final answer, if necessary, to two decimal places and enter it in canvas without the dollar (\$) sign)
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