Assume a $1,000 face value bond has a coupon rate of 8.6 percent paid semiannually and has an eight-year life. (a) Correct answer icon Your answer is correct. If investors are willing to accept a 10.6 percent rate of return on bonds of similar quality, what is the present value or worth of this bond? (Round final answer to nearest dollar amount.)

Present value $Type your answer here 893.90

What is the value of the bond if investors wanted an 8.1-percent rate of return? (Round final answer to nearest dollar amount.)

Bond value

$________