please answer 17,21,22 and 17.

17. Bond Price Movements Miller Corporation has a premium bond making semiannual payments. The bond pays a coupon of 6.5 percent, has a YTM of 5.3 percent, and has 13 years to maturity. The Modigliani Company has a discount bond making semiannual payments. This bond pays a coupon of 5.3 percent, has a YTM of 6.5 percent, and also has 13 years to maturity. Both bonds have a par value of $1,000. If interest rates remain unchanged, what do you expect the price of these bonds to be 1 year from now? In 3 years? In 8 years? In 12 years? In 13 years? What's going on here? Illustrate your answers by graphing bond prices versus time to maturity. 21. Bond Yields sion projects. The company currently has 5.7 percent coupon bonds on the market that sell for $1,048, have a par value of $1,000, make semiannual payments, and mature in RAK Co. wants to issue new 20-year bonds for some much-needed expan- 20 years. What coupon rate should the company set on its new bonds if it wants them to sell at par? 22. Accrued Interest You purchase a bond with a par value of $1,000 and an invoice price of $943. The bond has a coupon rate of 6.4 percent and there are two months to the next semiannual coupon date. What is the clean price of the bond? 17. Negative Growth Antiques R Us is a mature manufacturing firm. The company just paid a dividend of $12, but management expects to reduce the payout by 4 percent per year, indefinitely. If you require share today? a return of 9 percent on this stock, what will you pay for a