Question 10 Assume a $1,000 face value bond has coupon rate of 6.4 percent paid semiannually and has an eight-year life. (a) If investors are willing to accept a 10.8 percent rate of return on bonds of similar quality, what is the present value or worth of this bond? (Round factor value calculations to 5 decimal places, e.g. 0.52755. Round other intermediate calculations to 2 decimal places, e.g. 52.75. Round final answer to nearest dollar amount.) Present value $ Attempts: 0 of 2 used SAVE FOR LATER SUBMIT ANSWER (b)