You purchased one XYZ bond six years ago in the marketplace for $1,250.
The bond's coupon rate is 7%.
The bond matures 18 years from now.
New bonds, similar in risk and quality to the XYZ bond that you currently own, are being
issued in the market with a coupon rate of 8%.
Calculate the price that a bond investor would be willing to pay to purchase your bond
Assume that interest payments from the bond are received twice per year.