Knight, Inc., has issued a three-year bond that pays a coupon of 7.50 percent. Coupon payments are made semiannually. Given the market rate of…

Knight, Inc., has issued a three-year bond that pays a coupon of 7.50 percent. Coupon payments are made semiannually. Given the market rate of interest of 7.40 percent, what is the market value of the bond?