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Problem 10-21 (Algo) Bond value-semiannual analysis [LO10-3] Heather Smith is consideting a bond investment in Locklear Aitines. The $1000 par value bonds have a quoted

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Problem 10-21 (Algo) Bond value-semiannual analysis [LO10-3] Heather Smith is consideting a bond investment in Locklear Aitines. The $1000 par value bonds have a quoted annuat interest rate of 8 percent and the interest is paid semiannually. The yleid to maturity on the bonds is 12 percent annual interest. There are 10 years to maturity. Compute the price of the bonds based on semiannual analysis. Use Appendix B and Anpendixi for an approwmate answer but calculate your final answer using the formula and financial calculator methods Note: Do not round intermediate calculations. Round your final answer to 2 decimal places

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