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Problem 12-01 What would be the initial offering price for the following bonds (assume $1,000 par value and semiannual compounding)? Do not round intermediate calculations.

Problem 12-01 What would be the initial offering price for the following bonds (assume $1,000 par value and semiannual compounding)? Do not round intermediate calculations. Round your answers to the nearest cent. a. A 14-year zero-coupon bond with a yield to maturity (YTM) of 14%. S b. A 22-year zero-coupon bond with a YTM of 12%

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