Q1. Puan Najiha has a long term investment horizon and she is trying to choose among the three bonds (X, Y and Z). All the three bonds have the same degree of default risks as well as same maturity period of 10 years. Bond X, the first bond does not offer any coupon payment with redeemable value of RM1,000 at maturity. Bond Y, the second bond offers 8 percent coupon rate with a payment of RM80 per year. While Bond Z, the third bond has a 10 percent coupon rate that pays RM100 coupon payment per year. (14 marks) Required: 1. Calculate the price of the bonds if all the three bonds are now priced to yield 8% to maturity. (7 marks) ii. If Puan Najiha expects the yields to maturity of the bonds to be 8% at the beginning of next year, calculate the prices of the bonds? (7 marks)