10.) The company currently has $10.035 billion in long-term debt; assume $9.5 billion is in bonds. The company wishes to refinance its $9.5 billion bonds; therefore, it will reissue bonds. The structure of the new bonds is as follows: Maturity = 35 years, Coupon Rate = 3.5%, and they have a face value of $1,000 each. Similar bonds in the market have a yield-to-maturity (YTM) of 2.75%. What is the price of each bond? Are they trading at a discount or premium? 11.) Assume fifteen years have passed and the YTM in the market has risen to 6.5%. What is the price of the bonds? Are they trading at a discount or premium? 12.) Using the the same information as question 11, now assume that the bonds are semi- annual bonds. What is the new price of each bond