Question: 16. Problem 7.16 (Bond Valuation) ebook You are considering a 20-year $1.000 par value bond. Its coupon rate is 11%, and interest is paid semiannually.

16. Problem 7.16 (Bond Valuation) ebook You are considering a 20-year $1.000 par value bond. Its coupon rate is 11%, and interest is paid semiannually. If you require an effective annual interest rate (not a nominal rate) of 10.0045%, how much should you be willing to pay for the bond? Do not round Intermediate calculations. Round your answer to the nearest cent

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