A. Grohl Co. issued 13-year bonds a year ago at a coupon rate of 12 percent (APR). The bonds make semiannual payments. If the YTM on these bonds is 9 percent (APR), what is the current bond price?

B. Grohl Co. has bonds on the market with 16 years to maturity, a YTM of 8.8 percent (APR), and a current price of $1,196.50. The bonds make semiannual payments. What must the coupon rate be on these bonds (as an APR)? Note: first find the semi-annual payment. Then convert it into an annual payment and use this annual payment to find the coupon rate as an APR.