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Determine the price of a $1.6 million bond issue under each of the following independent assumptions: Maturity 15 years, interest paid annually, stated rate 8%,

Determine the price of a $1.6 million bond issue under each of the following independent assumptions:

Maturity 15 years, interest paid annually, stated rate 8%, effective (market) rate 12%.

Maturity 15 years, interest paid semiannually, stated rate 8%, effective (market) rate 12%.

Maturity 15 years, interest paid semiannually, stated rate 12%, effective (market) rate 10%.

Maturity 10 years, interest paid semiannually, stated rate 10%, effective (market) rate 8%.

Maturity 10 years, interest paid semiannually, stated rate 12%, effective (market) rate 12%.

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