Bond issue outstanding with an annual coupon rate

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BSW Corporation has a bond issue outstanding with an annual coupon rate of 7 percent paid quarterly and four years remaining until maturity. The par value of the bond is $1,000. Determine the fair present value of the bond if market conditions justify a 14 percent, compounded quarterly, required rate of return. (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16))

Reference no: EM13722074

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