What will be the market value of an 8%, Rs 1,000 par value bond with annual interest payment, where the required rate of return is 15%? A company has a perpetual bond paying Rs 150 as annual interest....

What will be the market value of an 8%, Rs 1,000 par value bond with annual interest payment, where the required rate of return is 15%?

A company has a perpetual bond paying Rs 150 as annual interest. The current yield on this type of bond in the market is 13%. What would be the price of the bond?