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Exodus Limousine Company has $1,000 par value bonds outstanding at 16 percent interest. The bonds will mature in 40 years. Use Appendix B and AppendixD

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Exodus Limousine Company has $1,000 par value bonds outstanding at 16 percent interest. The bonds will mature in 40 years. Use Appendix B and AppendixD for an approximate answer but calculate your final answer using the formula and financial calculator nethods. Compute the current price of the bonds if the percent yield to maturity is: (Do not round intermediate calculations. Round your final answers to 2 decimal places. Assume interest payments are annual.)

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