bond valuation

STEP: 3 of 3 Now, consider the situation in which Ella wants to earn a return of 11% on a $1,000 par value band, but the bond being considered for purchase offers a coupon rate of 8%. Again, assume that the bond pays semiannual interest payments and has three years to maturity. If you round the bond's intrinsic value to the nearest whole dollar, then its intrinsic value of its par value, so that the bond is trading at