Zhen Yi Computers has an outstanding bond issue with a par value of $1,000, with an annual 12% coupon rate. However, interest payments on this bond are paid semi-annual. The bond was issued 25 years ago and has 5 years to maturity. What is the market value of this bond today, assuming a 14% annual required rate of return?

a. First, label the bond variables:

1. Semi-annual coupon payment (PMT):

2. Semi-annual required rate of return:

3. Bond par value:

4. Semi-annual time periods remaining until maturity:

b. Calculate the current market value of this bond:

Please show work so I know how you did it. Thanks