Flora? Co.'s bonds, maturing in 18 ?years, pay 6 percent interest on a $1,000 face value.? However, interest is paid semiannually. If your required rate of return is 13 ?percent, what is the value of the? bond? How would your answer change if the interest were paid? annually?
a. If the interest is paid? semiannually, the value of the bond is ?___________?(Round to the nearest? cent.)
b. If the interest is paid? annually, the value of the bond is ?____________?(Round to the nearest? cent.)