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QUESTION 15 1.A Biosystems, Inc. bond has a 9% coupon rate and $ 1,000 face (par) value. Interest is paid semi-annually; and bond will mature

QUESTION 15

1.A Biosystems, Inc. bond has a 9% coupon rate and $ 1,000 face (par) value. Interest is paid semi-annually; and bond will mature in 16 years. Current market conditions are such that bonds of similar risk must generate a 12% return. What should be the bond's current market selling price? (7 POINTS)

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