(Bond valuation) Flora Co.'s bonds, maturing in 17 years, pay 12 percent interest on a $1,000 face value. However, interest is paid semiannually. If your required rate of return is 6 percent, what is the value of the bond? How would your answer change if the interest were paid annually?

a. If the interest is paid semiannually, the value of the bond is $______. (Round to the nearest cent.)

Answer rating: 100% (QA)

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