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Flora​ Co.'s bonds, maturing in 13 ​years, pay 6 percent interest on a $1,000 face value.​...

Flora​ Co.'s bonds, maturing in 13 ​years, pay 6 percent interest on a $1,000 face value.​ However, interest is paid semiannually. If your required rate of return is

16 ​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

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Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

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