Here is the text in case you cannot see the image.

Bond

valuationSemiannual

interestFind the value of a bond maturing in

10

years, with a

$1,000

par value and a coupon interest rate of

12%

(6%

paid semiannually) if the required return on similar-risk bonds is

13%

annual interest

(6.5%

paid semiannually).The present value of the bond is

$?.

(Round to the nearest cent.)

Enter your answer in the answer box.

Bond valuationSemiannual interest Find the value of a bond maturing in 10 years, with a $1,000 par value and a coupon interest rate of 12% 6% paid semiannually) if the required return on similar-risk bonds is 13% annual interest (6.5% paid semiannually). The present value of the bond is $. (Round to the nearest cent.)