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NU Inc outstanding bonds have a $1,000 par value which were issued 9 years ago. At the time of issuance, these bonds had a 20

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NU Inc outstanding bonds have a $1,000 par value which were issued 9 years ago. At the time of issuance, these bonds had a 20 year maturity thd in annual coupon rate of 4%, and sold for $800. Today, 9 years later (i.e., t=0), the market interest rate has stayed the same, but there la more i competition in the corporate bond market, and to make its bonds stili attractive. NU Inc charges the aforementioned bonds' coupon payment froth annual to quarterly (the first time any compony has done this in practice, quite an innovation by NU Incl) How much is the bond setling fot now fits price at t=0)

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