Musterl Manufacturing Corporation (MMC) has an issue of 7-year, 8% annual coupon bonds outstanding. The bonds, which were originally issued 15 years ago, have a face value (FV) of $1,000, a yield to maturity (YTM) of 10%, and are noncallable. What is the current market price of MMC's bonds? (Note: Do not round your intermediate calculations.) $992.89 $767.24 $902.63 $1,128.29 Are the bonds of Musterl Manufacturing Corporation selling at a discount, at par, or at a premium? Premium Discount Par What is the current yield on Musterl Manufacturing Corporation's outstanding bonds? 8.06% O 10.43% 7.09% 8.86% What is the expected one-year capital gain yield on the bonds of Musterl Manufacturing Corporation? 0.91% 01.34% 1.03% O 1.14% A bond investor is analyzing the following annual coupon bonds: Annual Coupon Rate 6% Issuing Company Smith Enterprises Irwin Incorporated Johnson Metalworks 12% 9% Each bond has 10 years until maturity and has the same risk. Their yield to maturity (YTM) is 9%. Interest rates are assumed to remain constant over the next 10 years. Identify the curves on the following graph to indicate the path that each bond's price, or value, is expected to follow. BOND VALUE $1 1200 A 1100 B 1000 900 800 700 600 10 8 6 4 YEARS TO MATURITY A B Based on the preceding information, which of the following statements are true? Check all that apply. The bonds have the same expected total return. The expected capital gains yield for Irwin's bonds is greater than 12%. Smith's bonds have the highest expected total return. The expected capital gains yield for Irwin's bonds is negative. Smith just registered and issued its bonds, which will be sold in the bond market for the first time. Smith's bonds would be referred to as