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Colby Company bonds have a 10% coupon rate and pay interest semiannually. They mature in 15 years and have a par value of $1,000. The

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Colby Company bonds have a 10% coupon rate and pay interest semiannually. They mature in 15 years and have a par value of $1,000. The market rate of interest is 8%. The market value of Colby bonds is: (Round to the nearest cent. Do not include S sign in your answer - i.e. if the answer is $888.43, then type 888.43 without Ssign)

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