0. QUESTION 38 A 20-year maturity bond pays interest of $90 once per year and has a face value of $1,000. Its yield to maturity is 10%. You expect that interest rates will decline over the upcoming year and that the yield to maturity on this bond will be only 8% a year from now. Using horizon analysis, the return you expect to earn by holding this bond over the upcoming year is 12.0% 21.6% 29.6% 10.0% QUESTION 39 0.2 Assuming semi-annual compounding, a 20-year zero coupon bond with a par value of $1,000 and a required return of 12% would be priced at $104.49 $97.22 $732.14 $364.08