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21 years ago, Delicious Mills, Inc issued 30-year to maturity bonds that had a 10.79% annual coupon rate, paid semiannually. The bonds had a $1000 face value. Since then, interest rates in general have changed and the yield to maturity on the Delicious Mills bonds in now 12.75%. What is the price today for a Delicious Mills bond?

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21 years ago, Delicious Mills, Inc issued 30-year to maturity bonds

that had a 10.79% annual coupon rate, paid semiannually. The bonds had a $1000 face value. Since then, interest rates in general have changed and the yield to maturity on the Delicious Mills bonds in now 12.75%. What is the price today for a Delicious Mills bond?

 
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