Using bond tables. Refer to Table 6 for 12-percent semiannual coupon bonds issued to yield 11 percent per year compounded semiannually. All of the questions that follow refer to the \(\$ 1\) million face value of such bonds issued by Centrix Company.

a. What are the initial issue proceeds for bonds issued to mature in 25 years?

b. What is the book value of those bonds after five years?

c. What is the book value of the bonds when they have 15 years until maturity?

d. What are the initial issue proceeds for bonds issued to mature in 15 years? (Compare your answer to part c.)

e. Write an expression for interest expense for the last six months before maturity.

f. If the market rate of interest on the bonds is 13 percent compounded semiannually, what is the market value of the bonds when they have 15 years to maturity?

g. When the bonds have 10 years until maturity, they trade in the market for 112.46 percent of par. What is the effective market rate at that time?