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Seven years ago, Nash Corporation issued 20-year bonds that had a $1,050 face value, paid interest annually, and had a coupon rate of 9 percent.
Seven years ago, Nash Corporation issued 20-year bonds that had a $1,050 face value, paid interest annually, and had a coupon rate of 9 percent. If the market rate of interest is 4.5 percent today, what is the current market price of an Nash Corporation bond? (Round intermediate calculations to 5 decimal places, eg. 1.25145 and final answer to 2 decimal places, eg. 52.75.) Current market price $
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