19. You buy an 8-year $1000 par value bond today that has a 6% yield and a 6% annual payment coupon. In one year the yields in the economy have risen to 7% and you've decided to sell the bond. How much can you sell it for? A. $940.29 B. $946.11 C. $1,000 D. $1,048.15 20. CVL bond has 10-year till maturity, 6% coupon rate and semi-annual interest payments. What is the market price of a $1,000 bond if the yield to maturity is 5.6%? A. $691.85 B. $1,030.01 C. $1,030.31 D. $1,275.77 E. $1,485.00 21. Do you expect 1-year interest rate one year from now to be higher or lower if the current one-year interest rate is 2.87% and the two-year interest rate is 3.07%? Assume the rates are effective annual rates. A. less than 2.87% B. between 2.87% and 3.07% C. higher than 3.07% D. Cannot tell