Bonds often pay a coupon twice a year. For the valuation of bonds that make semiannual payments, the number of periods doubles, whereas the amount of cash fiow decreases by half. Using the values of cash flows and number of periods, the valuation model is adfusted accordingly. Assume that a $1,000,000 par value, semiannual coupon US Treasury note with four years to maturity has a coupon rate of 3%. The yieid to maturity (YTM) of the bond is 11.00%. Using this information and ignoring the other costs involved, calculate the value of the Treasury note: Based on your colculations and understanding of si upon bonds, complete the following statement: The T-note described in this problem is setiling at a