Miller Corporation has a premium bond making semiannual payments. The bond pays a coupon of 9 percent, has a YTM of 7 percent, and has 19 years to maturity. The Modigliani Company has a discount bond making semiannual payments. This bond pays a coupon of 7 percent, has a YTM of 9 percent, and also has 19 years to maturity.

What is the price of each bond today? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Price of Miller Corporation bond	$
Price of Modigliani Company bond	$

If interest rates remain unchanged, what do you expect the prices of these bonds to be 1 year from now? In 9 years? In 14 years? In 18 years? In 19 years? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Price of bond	Miller Corporation Bond	Modigliani Company Bond
1 year	$	$
9 years	$	$
14 years	$	$
18 years	$	$
19 years	$	$