No. 10. The Mangold Corporation has two different bonds currently

outstanding. Bond M has a face value of $20,000 and matures in 20

years. The bond makes no payments for the first six years, then

pays $1,100 every six months over the subsequent eight years, and

finally pays $1,400 every six months over the last six years. Bond N

also has a face value of $20,000 and a maturity of 20 years; it makes

no coupon payments over the life of the bond. If the required

return on both these bonds is 9 percent compounded semiannually,

what is the current price of bond M? of bond N?