Christian & Company Limited (CCL) used debt to finance its acquisition of a business venture in St. Vincent and issued a 32-year bond series as per the approval of the board of directors. The bonds were issued on January 1, 2019, with a $1,000 par value and pay semi-annual coupons at a rate of 11% per annum. Coupons are paid on June 30 and December 31 each year.

i) What is the maturity date of these bonds (month, day, and year)?

ii) What would be the value of the bonds on July 1, 2029, if the interest rates had risen to 14%?

iii) What would be the value of the bonds on January 1, 2043, if the interest rates had fallen to 8%? Based on the price, how would these bonds be classified?

iv)Calculate the yield to maturity on the bonds on July 1, 2049, if they were selling for $954 at that time.