A large grocery chain is reevaluating its bonds since it isplanning to issue a n

A large grocery chain is reevaluating its bonds since it isplanning to issue a new bond in the current market. Thefirms outstanding bond issue has 6 years remaining untilmaturity. The bonds were issued with a 6 percent coupon rate(paid semiannually) and a par value of $1000. Because ofincreased risk the required rate is 10 percent. What is thecurrent value of these bonds?