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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 11%

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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 11% (5.5% paid semiannually) if the required return on similar-risk bonds is 17% annual interest (8.5% paid semiannually). The present value of the bond is $ (Round to the nearest cent.)

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