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Suppose the US government is issuing a $1,000 PAR value coupon bond today. This bond will mature in 20 years from today. The annual coupon

Suppose the US government is issuing a $1,000 PAR value coupon bond today. This bond will mature in 20 years from today.

The annual coupon rate of this bond is 7.5% and the coupons will be paid 4 times a year.

What will be the coupon payment each time it is paid?

Enter your answer in the following format: 12.34

Hint: Answer is between 17.25 and 19.88

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