Cox Media Corporation pays a $9$ percent coupon rate on debentures

that are due in $10$ years. The current yield to maturity on bonds of

similar risk is $6$ percent. The bonds are currently callable at

$$1,070.$ The theoretical value of the bonds will be equal to the

present value of the expected cash flow from the bonds.

Use$$Appendix B$$and$$Appendix D$$for an

approximate answer but calculate your final answer using the

formula and financial calculator methods.a$.$Find the market value of the bonds

using semiannual analysis.$($Ignore the call price in

your answer. Do not round intermediate calculations and round your

answer to $2$ decimal places.$)$b$.$Do you think the bonds will sell for

the price you arrived at in part$$a$?$ Yes or

No