YouTube

Maps

Gmail

Chapter Seven

Saved

Help

$4$

$10$

polnts

Westco Company issued $12-$year bonds a year ago at a coupon rate of $8\mathrm{.}4$ percent. The bonds make semiannual payments and have a par value of $$1,000.$ If the YTM on these bonds is $6\mathrm{.}7$ percent, what is the current bond price in dollars? $($Do not round intermediate calculations and round your answer to $2$ d$$cimal places, e$.$g$.,32\mathrm{.}16.)$

Current bond price