Debt Valuation: Interest-Bearing Debentures At the beginning of the year, Global Minds Inc. issued $100 million (maturity value) of 20-year debentures. The debentures carried a 2% per period coupon rate (i.e. 4% annually), were subject to semiannual compounding, and had been issued at a time when the yield rate was 3% per period (i.e. 6% annually) Required 1. Calculate the proceeds received by Global Minds when the bonds were sold. 2. Explain why the global minds bonds were sold at discount 3. Calculate the market value of the bonds if, after 10 years, the market yield rate is 5% per period. (i.e. 10% annually) 4. Calculate the cost of retiring the Global Minds bonds after 15 years assuming that the market yield rate is 5% per period at the time of retirement. Does the retirement result in a gain or loss? If so where will the gain/loss be reported on the companys statement of cash flows?