Freiburg Faucets Incorporated issued 20.00-year bonds 3.00 years ago with a coupon rate of 9.75% APR. The bonds pay semi-annual coupons, have a face value of $1,000 each and were issued at par value. What is the price of the Freiburg bonds today if investors want a 6.70% APR return for bonds of similar risk and maturity?

Suppose the risk-free rate is 1.04% and an analyst assumes a market risk premium of 5.47%. Firm A just paid a dividend of $1.20 per share. The analyst estimates the of Firm A to be 1.31 and estimates the dividend growth rate to be 4.45% forever. Firm A has 255.00 million shares outstanding. Firm B just paid a dividend of $1.65 per share. The analyst estimates the of Firm B to be 0.74 and believes that dividends will grow at 2.96% forever. Firm B has 185.00 million shares outstanding. What is the value of Firm B?

Assume a par value of $1,000. Caspian Sea plans to issue a 19.00 year, semi-annual pay bond that has a coupon rate of 8.05%. If the yield to maturity for the bond is 7.54%, what will the price of the bond be?