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3 You are called in as a financial analyst to appraise the bonds of Olsen's Clothing Stores. The $1000 povo bondsavac annual interest rate of

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3 You are called in as a financial analyst to appraise the bonds of Olsen's Clothing Stores. The $1000 povo bondsavac annual interest rate of 12 percent, which is paid semiannually. The yield to maturity on the bonds percentares. There are 20 years to maturity Use Appendix Band Appendix D for an approximate answer but calculate your tower wing the form and financial calculator methods .. Compute the price of the bonds based on semiannual analysis (Do not round intermediate calculations. Round your final rower to 2 decimal places.) b. With 15 years to maturity, if yield to maturity goes down substantially to 10 percent, what will be the new price of the bonds? (Don round intermediate calculations. Round your final answer to 2 decimal places..) New bond price O E DOLL

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