Question: Please answer the question and show steps. Bond valuation-Quarterly interest Calculate the value of a $1,000-par-value bond paying quarterly interest at an annual coupon interest

Please answer the question and show steps. Bond valuation-Quarterly interest Calculate

Please answer the question and show steps.

Bond valuation-Quarterly interest Calculate the value of a $1,000-par-value bond paying quarterly interest at an annual coupon interest rate of 8% and having 8 years until matunty if the required return on similar-risk bonds is currently a 16% annual rate paid quarterly The prosent value of the bond is (Round to the nearest cont.)

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