Midland Oil has $1,000 par value bonds outstanding at 19 percent interest. The bonds will mature in 25 years. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.

Compute the current price of the bonds if the present yield to maturity is:

Bond Price

a.10%-_______

b.9%- _______

c.13%-_______