(bond
valuation)
flora co.'s bonds, maturing in
13
years, pay
7
percent interest on a
$1,000
face value. however, interest is paid semiannually. if your required rate of return is
11
percent, what is the value of the bond? how would your answer change if the interest were paid annually?
a. if the interest is paid semiannually, the value of the bond is
$nothing .
(round to the nearest cent.)