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Even though most corporate bonds in the United States make coupon pa semiannually, bonds issued elsewhere often have annual coupon payments. Sup German company issues

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Even though most corporate bonds in the United States make coupon pa semiannually, bonds issued elsewhere often have annual coupon payments. Sup German company issues a bond with a par value of 1,000, 25 years to maturity coupon rate of 7.1 percent paid annually. If the yield to maturity is 8.2 percent, wha current price of the bond? (Do not round intermediate calculations and roun answer to 2 decimal places, e.g., 32.16.) Current price

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