The coupon interest rate is 8 and the yield to maturity is, Financial Management

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The coupon interest rate is 8 and the yield to maturity is

Callaghan Motors' bonds have 24 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 8%, and the yield to maturity is 7%. What is the bond's current market price? Round your answer to the nearest cent.

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Financial Management: The coupon interest rate is 8 and the yield to maturity is

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Financial Management: The coupon interest rate is 8 and the yield to maturity is

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