+ Chapter 8 Nement Player Ull Question 13 of 14 0.25/1 Current Attempt in Progress The Crane Department of Transportation has issued 25-year bonds that make semiannual coupon payments at a rate of 9575 percent. The current market rate for similar securities is 11.6 percent. Assume that the face value of the bond is $1,000 Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you've been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.) * Your answer is incorrect. What is the current market value of one of these bonds? (Round answer to 2 decimal places, e... 15.25.) Current market value What will be the bond's price if rates in the market (1) decrease to 9.60 percent or (1) increase to 12.6 percent? (Round answers to 2 decimal places, e.g. 15.25.) Bond's price (1) Decrease to 9.60 percent 1030.61 (11) Increase to 12.6 percent 797.71 e Textbook and Media Suppose the bond were to mature in 12 years. What will be the bond's price it rates in the market (1) decrease to 9.60 percent or (ii) increase to 12.6 percent? (Round answers to 2 decimal places, e.g. 15.25.) (1) Bond's price if rate decrease to 9.60 percent $ 836.69 (11) Bond's price if rate increase to 12.6 percent $ 102287