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Calculate the purchase price (flat) of the $1,000 face value bond using the information given below. (Round your answer to the nearest cent.) Issue date

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Calculate the purchase price (flat) of the $1,000 face value bond using the information given below. (Round your answer to the nearest cent.) Issue date March 15, 2002 Maturity date March 15, 2027 Purchase date Oct 5, 2008 Coupon rate (%) Market rate (%) 5.5 6.0 Assume that: Bond interest is paid semiannually. The bond was originally issued at its face value. Bonds will be redeemed for their face value at maturity. Market rates of return and yields to maturity are compounded semiannually. Purchase price

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