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Calculate the price of the following bond: FV = $1,000; coupon rate = 7 percent, paid semi-annually; market rate = 6 percent; term to maturity

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Calculate the price of the following bond: FV = $1,000; coupon rate = 7 percent, paid semi-annually; market rate = 6 percent; term to maturity = 12 years. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answer to 2 decimal places e.g. 1,289.71.) Price of bond

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