A. Weismann Company issued 19-year bonds a year ago at a coupon rate of 6 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 11 percent, what is the current bond price?

B. Weismann Company wants to issue new 14-year bonds for some much-needed expansion projects. The company currently has 6.4 percent coupon bonds on the market that sell for $686.02, make semiannual payments, and mature in 14 years. What coupon rate should the company set on its new bonds if it wants them to sell at par? Assume a par value of $1,000.