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I would just like to know the answer for part (B). please thank you Question 11 The Garcia Company's bonds have a face value of

I would just like to know the answer for part (B). please thank you image text in transcribed

Question 11 The Garcia Company's bonds have a face value of $1,000, will mature in 10 years, and carry a coupon rate of 17.1 percent. Assume interest payments are made semiannually. (a) Your answer is correct. Determine the present value of the bond's cash flows if the required rate of return is 17.1 percent. (Round factor value calculations to 5 decimal places, e.g. 0.52755. Round other intermediate calculations to 2 decimal places, e.g. 52.75. Round final answer to nearest dollar amount.) Present value 1,000 LINK TO TEXT Attempts: 1 of 2 used (b) How would your answer change if the required rate of return is 11.6 percent? (Round factor value calculations to 5 decimal places, e.g. 0.52755. Round other intermediate calculations to 2 decimal places, e.g. 52.75. Round final answer to nearest dollar amount.) Present value $

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