Par value = $1,000
Maturity (n) = 15 years, total periods = 15 * 2 = 30 periods
Yield-to-Maturity (i) = 8%= Semi-annual rate = 8/2 = 4%
Current price = Par value * [1/ (1 + i)n]
Current price = $1,000 * [1 / (1 + 0.04)30]
Current price = $308.32
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