Problem $7-3$ Valuing Bonds $[$LO$2]$

Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have

annual coupon payments. Suppose a German company issues a bond with a par value of years to maturity, and a coupon

rate of $7\mathrm{.}3$ percent paid annually. If the yield to maturity is $8\mathrm{.}4$ percent, what is the current price of the bond in euros?

Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Current price