9 (e) We have following data on different bonds. Annual Coupon Years to Required Bond Par Value (8) Interest Rate(%) Maturity Return (%) 1,000 5 6 M 100 10 8 10 N 18 17 15 Required: (1) Compute bond L current value. (4 marks) (ii) As we get closer to the maturity, what happens to the bond L value? (2 marks) (iii) What is the price of bond M if years to maturity is two? (2 marks) 500