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Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often hove annual coupon payments. Suppose a German company

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Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often hove annual coupon payments. Suppose a German company issues a bond with a par value of E1,000,7 years to maturity, and a coupon rote of 8.8 percent paid annuolly. If the YTM is 10.8 percent, what is the current bond price in euros? Note: Do not round intermediate colculations and round your answer to 2 decimal places, e.9., 32.16

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