b.if the interest is paid annually,the value of the bond is $ __

(Bond valuation) Flora Co's bonds, maturing in 9 years, pay 5 percent interest on a $1.000 face value. However, interest is paid semiannually. If your required rate of return is 7 percent, what is the value of the bond? How would your answer change if the interest were paid annually? . If the interest in paid semiannually, the value of the bond is $(Round to the nearest cont.)