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Hewitt Packing Company plans to issue bonds with a 10-year maturity, a $1,000 par value, a 10 percent coupon rate, and semiannual interest payments. Bonds

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Hewitt Packing Company plans to issue bonds with a 10-year maturity, a $1,000 par value, a 10 percent coupon rate, and semiannual interest payments. Bonds of the same risk are currently having a yield to maturity of 12 percent. What is the value of these Hewitt Packing Company bonds? O $885.30 O $987.40 $1050.65 $1114.70

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