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Freiburg Faucets Incorporated issued 15.00 -year bonds 6.00 years ago with a coupon rate of 9.00 % APR . The bonds pay semi- annual coupons

Freiburg Faucets Incorporated issued 15.00 -year bonds 6.00 years ago with a coupon rate of 9.00 % APR . The bonds pay semi- annual coupons , have a face value of $ 1,000 each and were issued at par value . What is the price of the Freiburg bond's today if investors want a 7.96% APR return for bonds of similar risk and maturity ?

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