Calculate using the Excel or financial calculator. Do not use financial tables to calculate these problems.

XYZ Company bonds offer a coupon rate of 13.41 percent. Interest is paid semiannually. The bonds possess a nominal value of $1,000 and will reach their maturity in a span of 25 years. Determine the valuation of Flower Valley Company bonds based on a discount rate of 10.45 percent as per investors' required rate of return.

Please approximate the answer to two decimal places.

Answer rating: 100% (QA)

To calculate the valuation of the XYZ Company bonds we can use the present value formula for a bond ... View the full answer