1. Midland Utilities has an outstanding bond issue that will mature to its $1,000 par value in 15 years. The bond has a coupon rate of 11% and pays interest semiannually

(Solve each step by step clearly showing how you got the correct answers)

Part A- Find the value of the bond if the required return is 11%.

Part B- Indicate whether the bond is sold at a: discount, a premium or at its par value.

Part C- Find the value of the bond if the required return is 15%.

Part D- Indicate whether the bond is sold at a: discount, a premium or at its par value.

Part E - Find the value of the bond if the required return is 8%.

Part F- Indicate whether the bond is sold at a: discount, a premium or at its par value.