What is the value of a bond that has a par value of $1,000, a coupon rate of 7.46 percent (paid annually), and that matures in 3 years?

What is the value of a bond that has a par value of $1,000, a coupon rate of 7.46 percent (paid annually), and that matures in 3 years? Assume a required rate of return on this bond is 12.43 percent.

Question:What is the value of a bond that has a par value of $1,000, a coupon rate of 7.46percent (paid annually), and that matures in 3 years? Assume a required rate ofreturn on this bond is…