Johnson has a bond with a coupon rate of 8 percent, payable semi-annually. It has 6 years until maturity, and the yield to maturity is 7.5 percent. (a) What interest(coupon) payments do bondholders receive each year? (b) At what price does the bond sell? (c) What will happen to the bond price if the yield to maturity decreases to 5 percent?

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