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Miller Corporation has a premium bond making semiannual payments. the bond has a coupon rate of 9 percent, a YTM of 7 percent, and 13
Miller Corporation has a premium bond making semiannual payments. the bond has a coupon rate of 9 percent, a YTM of 7 percent, and 13 years to maturity. the Modigliani Company has a discount bond making semiannual payments. This bond has a coupon rate of 7 percent, a YTM of 9 percent, and also has 13 years to maturity. What is the price of each bond today? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) If interest rates remain unchanged, what do you expect the price of these bonds to be 1 year from now? in 4 years? in 8 years? in 12 years? in 13 years? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)
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