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ABC Inc. recently issued $1,000 par bonds at a 15.51% coupon rate. If the bonds have 12 years to maturity and a YTM of 8.03%,

image text in transcribed ABC Inc. recently issued \$1,000 par bonds at a 15.51\% coupon rate. If the bonds have 12 years to maturity and a YTM of 8.03%, what is the current price of the bond? Assume semi-annual compounding. Note: Enter your answer rounded off to two decimal points. Do not enter \$ or comma in the answer box

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