Compute the value of flower valley company bonds if


This set of problems is designed to be calculated using the Excel or financial calculator. Do not use financial tables to calculate these problems.

Flower Valley Company bonds have a 13.89 percent coupon rate. Interest is paid semiannually. The bonds have a par value of $1,000 and will mature 18 years from now. Compute the value of Flower Valley Company bonds if investors’ required rate of return is 9.34 percent.

Round the answer to two decimal places.

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