Question: Problem 1: Semi-annual bond pricing Last year, Fenway Data Security sold $40 million worth of 7.5% coupon (paid semi-annually), 15-year maturity, $1,000 par value, AA-rated

Problem 1: Semi-annual bond pricing Last year, Fenway Data Security sold

Problem 1: Semi-annual bond pricing Last year, Fenway Data Security sold $40 million worth of 7.5% coupon (paid semi-annually), 15-year maturity, $1,000 par value, AA-rated bonds to finance its business expansion. Currently, investors are demanding a yield of 8.5% on similar bonds. If you own one of these bonds and want to sell it today, then how much money can you expect to receive for it

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