Assets, Inc., plans to issue $6 million of bonds with a coupon rate of 9 percent, a par value of $1.000, semiannual coupons. and 15 years to maturity. The current market interest rate on these bonds is 8 percent. In one year, the interest rate on the bonds will be either 12 percent or 8 percent with equal probability. Assume investors are risk- neutral. a. If the bonds are noncallable, what is the price of the bonds today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. Price of the bonds $ 1,086.46 b. If the bonds are callable one year from today at $1.060, will their price be greater or less than the price you computed in part (a)? Lesser Greater Assets. Inc., plans to issue $6 million of bonds with a coupon rate of 9 percent. a par value of $1000. semiannual coupons. and 15 years to maturity The current market interest rate on these bonds is 8 percent. In one year the interest rate on the bonds will be either 12 percent or 8 percent with equal probability. Assume investors are risk- neutral a. If the bonds are noncallable. what is the price of the bonds today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. 837 59x Price of the bonds b. If the bonds are callable one year from today at $1,060, will their price be greater or less than the price you computed in part (a)? Lesser Greater