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(Bond valuation) Hamilton, Inc. bonds have a coupon rate of 15 percent. The interest is paid semiannually, and the bonds mature in 14 years. Their

(Bond valuation) Hamilton, Inc. bonds have a coupon rate of 15 percent. The interest is paid semiannually, and the bonds mature in 14 years. Their par value is $1,000. If your required rate of return is 11 percent, what is the value of the bond? What is the value if the interest is paid annually?

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a. What is the value of the bond if the interest is paid semiannually?

b. What is the value of the bond if the interest is paid annually?

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