A fixed coupon bond has 15 years to maturity and a coupon ra…

A fixed coupon bond has 15 years to maturity and a coupon rate of 7.5%  Coupon payments are made semi-annually.  Assuming  a current market rate of 7%, what is the present value of the bond?  (HINT – assume this is a $1,000 bond) * Draw a timeline of show all cashflows for this bond.  Submit the timeline with your hand-written work. *