ABC Education Ltd has a corporate bond outstanding with a 8% coupon, semi-annual interest, 15 years to maturity and a face value of $1,000. Similar bonds currently yield 5%. By prior agreement, the company will skip the coupon payments during the period between 4 and 5 (4 payments; the payments at time 4 through to 5.5) as well as during the period between 11 and 13 (6 payments; the payment at time 11 through to 13.5). In total 10 coupons will be skipped and these payments will be repaid, without interest, at maturity.