(Related to Checkpoint​ 9.4) ​(Bond valuation) A bond that matures in
13
years has a
​$1 comma 000
par value. The annual coupon interest rate is
12
percent and the​ market's required yield to maturity on a​comparable-risk bond is
14
percent. What would be the value of this bond if it paid interest​ annually? What would be the value of this bond if it paid interest​ semiannually?
Question content area bottom
Part 1
a. The value of this bond if it paid interest annually would be
​$.
​(Round to the nearest​ cent.)