1. What's the value to an investor of a $1,000 par value bond with an 8 percent coupon rate when the investors required rate of return is 15 percent?

   1. Great than $1000.

   2. Less than $1000.

   3. $1,000.

   4. There is not enough information provided to answer this question.

   5. None of the answers listed above are always correct.