Question 37 6 pts Company X issued bonds ten years ago at $1,000 per bond. The bonds had a 25 year life when issued and the annual coupon rate was 10%. This 10% coupon rate exactly matched the required return by bondholders at that time. Interest is paid semi-annually. After ten years, the environment changed such that 7.25% is now the investors' required rate of return. Compute the new valuation of the bond which you hold as an asset $1,348.98 $1,248.98 $1,246.72 $1,347.98