Assume that a bond will make payments every six months as shown on the following timeline (using six-month periods):

The timeline starts at Period 0 and ends at Period 40. The timeline shows a cash flow of $ 19.32 each from Period 1 to Period 39. In Period 40, the cash flow is $ 19.32 plus $ 1,000.

PeriodPeriod

00

11

22

nothing

3939

4040

Cash FlowsCash Flows

nothing

$ 19.32$19.32

$ 19.32$19.32

nothing

$ 19.32$19.32

$ 19.32 plus $ 1,000$19.32+$1,000

a. What is the maturity of the bond (in years)?

b. What is the coupon rate (as a percentage)?

c. What is the face value?

a. What is the maturity of the bond (in years)?

The maturity is

2020

years.(Round to the nearest integer.)

b. What is the coupon rate (as a percentage)?

The coupon rate is

(Round to two decimal places.)