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Bond valuationSemiannual interest Find the value of a bond maturing in 12 years, with a $1,000 par value and a coupon interest rate of 13%

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Bond valuationSemiannual interest Find the value of a bond maturing in 12 years, with a $1,000 par value and a coupon interest rate of 13% (6.5% paid semiannually) if the required return on similar-risk bonds is 15% annual interest (7.5% paid semiannually). The present value of the bond is $. (Round to the nearest cent.)

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