Question: Bond Valuation. Mark has a Treasury bond with a par value of $10,000 and a coupon rate of 5%. The bond has 14 years to

Bond Valuation. Mark has a Treasury bond with a par value

Bond Valuation. Mark has a Treasury bond with a par value of $10,000 and a coupon rate of 5%. The bond has 14 years to maturity. Mark needs to sell the bond and new bonds are currently carrying coupon rates of 4%. At what price should Mark sell the bond? The price Mark should sell the bond at is $ (Round to the nearest cent.)

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