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Miller Corporation has a premium bond making semiannual payments. The bond pays a coupon of 11 percent, has a YTM of 9 percent, and has

Miller Corporation has a premium bond making semiannual payments. The bond pays a coupon of 11 percent, has a YTM of 9 percent, and has 17 years to maturity. The Modigliani Company has a discount bond making semiannual payments. This bond pays a coupon of 9 percent, has a YTM of 11 percent, and also has 17 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 8 years? In 12 years? In 16 years? In 17 years?

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