2 Suppose the GM bond is an 8% bond that will pay you the $1,000 principal, plus an $80 interest payment one year from now (a total bond payment of...

8.2 Suppose the GM bond is an 8% bond that will pay you the $1,000 principal, plus an $80 interest payment one year from now (a total bond payment of $1,080). The current interest rate in the economy is 12%. Using the present value formula, about how much is the bond worth now?