Required:

Essex Biochemical Company has a $$1,000$ par value bond outstanding that pays $15$ percent annual interest. The current yield to maturity on such bonds in the market is $17$ percent. Compute the price of

$3$

the bonds for the maturity dates:

a$.30$ years

b$.20$ years

c$.4$ years

$4$

Note: Use cell A$2$ to B$13$ from the given information to complete this question. You must use the built$-$in Excel function to answer this question. All answers should be displayed as positive numbers. For all requirements, do not round intermediate calculations. Round your final answers to $2$ decimal places.

$\backslash$table$[[$Input area:$],[\backslash$table$[[$Par value of bond,$1,000],[$Interest rate,$15\%$