Problem #$2$: A bond has a face value $($and redemption value$)$ of $$504,000,$ and pays coupons annually. The effective annual yield is $4$ times the coupon rate. The present value of the redemption amount is $2$ times the present value of the coupon stream. What is the price of the bond?

Problem #$2$:

Answer to the nearest dollar.

Submit Problem #$2$ for Grading