2.3 2.4 If the price of Lowe's preference shares is R30 and the company pays a dividend of R2, what is the discount rate/required rate of return used by the company? (5) Miller Corporation has a premium bond making semi-annual payments. The bond pays a 9 percent coupon, has a discount rate of 7 percent, and has 8 years to maturity. I the bond's face value is R10 000 000, what is the price of this bond today? (5) Page 2 of 3 2.5 A South African company has a bond outstanding that sells for 88 percent of its R100,000 par value. The bond has a coupon rate of 6 percent paid annually and matures in 20 years. What is the yield to maturity of this bond