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Hewitt Packing Company has an issue of $1,000 par value bonds with a 12 percent coupon interest rate outstanding. The issue pays interest semiannually and
Hewitt Packing Company has an issue of $1,000 par value bonds with a 12 percent coupon interest rate outstanding. The issue pays interest semiannually and has 10 years remaining to its maturity date. Bonds of similar risk are currently selling to yield a 10 percent rate of return. What is the value of these Hewitt Packing Company bonds? Enter answer without commas or dollar signs. (ex. $1,546.78 is 1546.78)
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