Final answer:
To calculate the bond's value, discount each coupon payment and the bond's face value repayment by using the investor's required yield as the discount rate. The final value is the sum of these discounted cash flows. The question doesn't provide a face value, so the exact bond value cannot be computed from the information given.
Step-by-step explanation:
The value of a bond can be calculated by discounting the future cash flows (coupon payments and the face value repayment at maturity) back to the present using the investor's required yield, or opportunity cost, as the discount rate. For the bond in question with a coupon of 48 and a maturity of 15 years, and a required yield of 6.8%, the present value can be calculated using a financial calculator or present value formula for each cash flow stream and then summing them up. The present value formula applied to each coupon payment and the face value repayment is: PV = C / (1 + r)^n, where PV is the present value, C is the cash flow, r is the required yield or discount rate, and n is the time period.
To calculate the total value of the bond, you would sum up the present values of all coupon payments over the 15-year period plus the present value of the final repayment of face value. Since the question does not provide the face value of the bond, we cannot calculate the exact value of the bond with the given data. However, the concept is that the bond's value would be the sum of the discounted coupon payments and the discounted face value repayment at maturity, both of which are discounted at the investor's opportunity cost of 6.8%.