Pet Food Company bonds pay an annual coupon rate of 8.57 percent. Coupon payments are paid...
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Pet Food Company bonds pay an annual coupon rate of 8.57 percent. Coupon payments are paid semiannually. Bonds have 26 years to maturity and par value of $1,000. Compute the value of Pet Food Company bonds if the market interest rate on this type of bond is 12.19 percent. Round the answer to two decimal places. Pet Food Company bonds pay an annual coupon rate of 8.57 percent. Coupon payments are paid semiannually. Bonds have 26 years to maturity and par value of $1,000. Compute the value of Pet Food Company bonds if the market interest rate on this type of bond is 12.19 percent. Round the answer to two decimal places.
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