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Bond Q has par value $1,000, coupon rate 12% (paid semiannaully), and matures in 24. It is callable beginning 13 years from today. Call price
Bond Q has par value $1,000, coupon rate 12% (paid semiannaully), and matures in 24. It is callable beginning 13 years from today. Call price is equal to par value, plus the annual coupon. Calculate the price of Bond Q if its yield to call is 5.8% BEY. Express your answer with three digits after the decimal point (e.g., 1234.567).
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