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Fresh Water Inc sold an issue of 16 year $1000 par value bonds to the public. The bonds have a 10.32 percent coupon rate and pay interest annually. The current market rate of interest on the fresh water bonds is 8.45%. What is the current market price of the bonds

Fresh Water Inc sold an issue of 16 year $1000 par value bonds to

the public. The bonds have a 10.32 percent coupon rate and pay interest annually. The current market rate of interest on the fresh water bonds is 8.45%. What is the current market price of the bonds

 
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