b. What is the value of the bond if investors wanted a 7.2 percent rate of return?

Assume a $1,000 face value bond has a coupon rate of 7.6 percent paid semiannually and has an eight-year life. (a) If investors are willing to accept a 10.4 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 $ e Textbook and Media Save for Later Attempts: 0 of 2 used Submit