Lumber Masters Inc Has An Issue Of 1 000 Par Value Bonds With A 14 Percent Coupo

Lumber Masters Inc has an issue of $1,000 par value bonds with a 14 percent coupon interest rate outstanding. The issue pays interest semiannually and has 10 years remaining to its maturity date. Bonds of similar risk are currently selling to yield a 12 percent rate of return. What is the value of these Lumber Masters Inc bonds?

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