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ABC Limited has two different bonds currently outstanding. Bond x has a face value of R 1 0 0 0 0 0 and matures in

ABC Limited has two different bonds currently outstanding. Bond x has a face value of R100000 and matures in 10 years' time. The coupon rate on the bond is 10%. Coupons are paid semi-annually in arrears.
Bond Y also has a face value of R100000 and a maturity of 10 years; it makes no coupon payments over its 10-year life. The yield to maturity (YTM) on both bonds is 12% per year, compounded semi-annually.
Required:
What is the maximum amount that a rational investor would pay for each of these bonds? Round off your answers to two decimal places.
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