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A firm has an outstanding issue of bonds with a face value of $1,000 and a 12 percent coupon interest rate The issue has 15
A firm has an outstanding issue of bonds with a face value of $1,000 and a 12 percent coupon interest rate The issue has 15 years remaining to its maturity date. Requirement 1: If interest is paid annually and the yield-to-maturity on these bonds is 9 percent, what is the current bond price? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Bond Price Requirement 2: What is the current price of the bond if interest is paid semiannually rather than annually? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Bond Price
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