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Looking for Formula and Answer. Valuing Bonds- Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have

Looking for Formula and Answer.

Valuing Bonds- Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German company issues a bond with a par value of $1000, 23 years to matuity, and a coupon rate of 5.8 percent paid annually. If the yeild to maturity is 4.7 percent, what is the current price of the bond ?

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