Question: I know the answer I got is right but the system I'm using doesn't think so. can you help me and let me know what

I know the answer I got is right but the system

I know the answer I got is right but the system I'm using doesn't think so. can you help me and let me know what I did wrong? Thanks

Assignment KQuestion 3 (of 3) 10.00 points New Business Ventures, Inc., has an outstanding perpetual bond with a coupon rate of 10 percent that can be called in one year. The bond makes annual coupon payments. The call premium is set at $120 over par value. There is a 60 percent chance that the interest rate in one year will be 12 percent, and a 40 percent chance that the interest rate will be 8 percent If the current interest rate is 10 percent, what is the current market price of the bond? Assume a par value of $1,000 (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.. 32.16) Current market price 933.33 References eBook & Resources Difficuity section 152 con Worksheet 2 Intermediate Check my work Type here to search O/ 2 3 4 5 8 SDFGH

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