15 years ago, Company X issued some 20 year 5% annual coupon bonds that were priced with a yield to maturity of 8% p.a. and had a face value of $1000. What did these bonds sell for when they were issued?

b) Now that 15 years have passed and the market's yield to maturity on these bonds has climbed to 10%p.a.. What are they selling for now?

c) What is currently the duration on the bond? (At the yield to maturity of 10% p.a.)