Financial Management

Please show work on part b. Thank you.

Question 1 (Related to Checkpoint 9.4) (Bond valuation)

A bond that matures in 19 years has a $1,000 par value. The annual coupon interest rate is 14 percent and themarket's required yield to maturity on a comparable-risk bond is 13 percent.

part a) What would be the value of this bond if it paid interest annually? _1,069.38_

part b) What would be the value of this bond if it paid interest semiannually? _____