Asafa company has taken advantage of the prevailing low interest rate environment to raise new financing. It issued bonds on January 1, 2008, which mature on December 31, 2030 and have a par value of $1,000 and a coupon rate of 10%. Coupon payments are made semi-annually.

I. What would be the value of the bonds be on June 30, 2021, if interest rates had risen to 12%?

II. What would be their values on December 31, 2022, if interest rates had fallen to 6%?

III. If the bonds had a value of $945.00 on June 30, 2025 and the coupon rate was 8% instead of 10%, what would be their yield to maturity on that date?