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The Garcia Companys bonds have a face value of $1,000, will mature in 10 years, and carry a coupon rate of 17.0 percent. Assume interest
The Garcia Companys bonds have a face value of $1,000, will mature in 10 years, and carry a coupon rate of 17.0 percent. Assume interest payments are made semiannually.
How would your answer change if the required rate of return is 11.1 percent? (Round factor value calculations to 5 decimal places, e.g. 0.52755. Round other intermediate calculations to 2 decimal places, e.g. 52.75. Round final answer to nearest dollar amount.)
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