Marigold Merchants has an outstanding bond issue of $1,000 par value bonds with an 8% coupon interest rate. The issue pays interest semiannually and has 10 years remaining to maturity. It is currently yielding 10%. What is the price of these bonds? Adjust the yield of 10% by dividing by 2 = 5%. Adjust the time to maturity of 10 years by multiplying by 2 = 20. Adjust the payment of $80 by dividing by 2 = $40.