Problem 10-5 Bond value (LO10-3] noints Essex Biochemical Co. has a $1.000 par value bond outstanding that pays 13 percent annual interest. The current yield to maturity on such bonds in the market is 8 percent. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. ebook Compute the price of the bonds for the maturity dates: (Do not round intermediate calculations. Round your final answer to 2 decimal places. Assume interest payments are annual) Hint Bond Price References a. 40 years b. 25 years c. years