P6-24 (similar to) Question Bond valuation-Semiannual interest Find the value of a bond maturing in 11 years, with a $1,000 par value and a coupon interest rate of 12% (6% paid semiannually) if the required return on similar risk bonds is 18% annual interest (9% paid semiannually). The present value of the bond is (Round to the nearest cent.)