Question: Denis purchased a $ 1 0 , 0 0 0 face value Ontario Hydro Energy bond maturing in five years. The coupon rate was 8

Denis purchased a $10,000 face value Ontario Hydro Energy bond maturing in five years. The coupon rate was 8.3% payable semiannually. If the prevailing market rate at the time of purchase was 7.6% compounded semiannually, what price did Denis pay for the bond? (Do not round the intermediate calculations. Round your final answer to 2 decimal places.)Assume that: Bond interest is paid semiannually. The bond was originally issued at its face value. Bonds are redeemed at their face value at maturity. Market rates of return are compounded semiannually.

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