Market Yield Rates and Bond Values Smith & Company issued $3 million maturity value of 5-year bonds, which carried a coupon rate of 6%, with interest paid semiannually. At the time of the debt offering, equivalent risk-rated bonds were yielding 8%. One year after the 5-year bond offering yield rates had risen to 10%; but, by the second anniversary of the bond sale, the yield rate on similarly risk-rated debt instruments had dropped to only 4%. Calculate the proceeds from the sale of the 6%, 5-year bonds. Round your answer to the nearest dollar. $ 0 Calculate the book value of the bonds after 1 year and after 2 years. Do not round until final answer. Round answers to the nearest dollar. Year 1 $ Year 2 $ 0 0 Calculate the market value of the bonds after one year and after two years. Round your answers to the nearest dollar. Year 1 $ 0 Year 2 $ 0 Market Yield Rates and Bond Values Smith & Company issued $3 million maturity value of 5-year bonds, which carried a coupon rate of 6%, with interest paid semiannually. At the time of the debt offering, equivalent risk-rated bonds were yielding 8%. One year after the 5-year bond offering yield rates had risen to 10%; but, by the second anniversary of the bond sale, the yield rate on similarly risk-rated debt instruments had dropped to only 4%. Calculate the proceeds from the sale of the 6%, 5-year bonds. Round your answer to the nearest dollar. $ 0 Calculate the book value of the bonds after 1 year and after 2 years. Do not round until final answer. Round answers to the nearest dollar. Year 1 $ Year 2 $ 0 0 Calculate the market value of the bonds after one year and after two years. Round your answers to the nearest dollar. Year 1 $ 0 Year 2 $ 0