Calculate the value of a $500-par-value bond paying quarterly interest at an annual coupon interest rate of 12% and having 8 years until maturity if the required return on similar-risk bonds is currently a 13% annual rate paid quarterly.

P6-26 (similar to) Question Help of 12% and havng 8 yers ung martyrte mand-mon Calalabe te value of a SS00par vakn bord payingqanterlyinterostatanarnual coupon innst Bond simlan-eisk bonds is currently a 13% annual rate paid quarterty interest The present vakue of the bond iRound to the nearestoent)