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X P6-24 (similar to) Bond valuation Semiannual interest Find the value of a bond maturing in 7 years, with a $1,000 par value and a

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X P6-24 (similar to) Bond valuation Semiannual interest Find the value of a bond maturing in 7 years, with a $1,000 par value and a coupon interest rate of 14% (7% paid semiannuady) if the required return on similar risk bonds is 13% annual interest (6.5% paid semiannually) The present value of the bond is $(Round to the nearest cont.)

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