Bond valuation-Semiannual interest Find the value of a bond maturing in 4 years, with a $1,000 par value and a coupon interest rate of 9% (4.5% paid semiannually) if the required return on similar-risk bonds is 13% annual interest (6.5% paid semiannually). The present value of the bond is $ 622.04. (Round to the nearest cent.)