(Answered) What is the bond price

Finance

Problem: Lei Corporation's bonds have a 30-year maturity, a 10% semiannual coupon ($50 coupon payments are made every six months), a face value of $1,000, and cannot be called. The going nominal annual interest rate (rd) for similar semiannual payment bonds of equivalent risk is 7%.

Required: What is the bond's price? Support your statements with examples.

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