$9\mathrm{.}5($Valuing bonds$)$ Red Plc bonds have a $6$ percent annual coupon rate. The interest is paid semiannually, and the bonds mature in eight years. Their face value is $400.$ If the market$$s required yield to maturity on a comparable$-$risk bond is $8$ percent, what is the value of the bond? What is its value if the interest is paid annually?

NOT IN EXCEL, INCLUDE STEPS