Debt Valuation: Interest-Bearing Debentures At the beginning of the year, Marshall Square, Inc. issued $100 million (maturity value) of 20-year debentures. The debentures carry a 4.75 percent annual coupon rate (compounded semi-annually) and interest payments are made semi-annually. The market rate of interest at the time the debentures were issued was 5 percent. Required 1. Calculate the proceeds received by Marshall Square when the bonds were sold. Do not round until your final answer. Round your answer to the nearest dollar. $ 96,860,000 ceTime Julate the market value of the bonds if, after five years, the market yield rate is four percent per period. Do not round until your final answer. Round your answer to the nearest dollar. $ 76,930,000 4. Calculate the cost of retiring the Marshall Square bonds after 15 years assuming that the market yield rate is three percent per period (six percent annually) at the time of retirement. Hint: To compute the book value of the bonds - calculate the bond's present value for the remaining payment periods. Do not round until your final answer. Round your answer to the nearest dollar. Enter an increase to an account as a positive number, and decreases to an account as a negative number. Bonds Payable $ 0 x Bond discount $ 0 x Cash $ 0 x Gain/(Loss) 0 *