(Bond valuation) Flora Co.'s bonds, maturing in 9 years, pay 16 percent interest on a $...

(Bond valuation) Flora Co.'s bonds, maturing in 9 years, pay 16 percent interest on a $ 1000 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 $ 1156.50. (Round to the nearest cent.)

b. If the interest is paid annually, the value of the bond is

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​(Bond valuation​) Flora​ Co.'s bonds, maturing in 9 ​years, pay 16 percent interest on a $...

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