Question 19 (3.5 points) Yes They May, Inc. has a bond issue outstanding with a $1,000 par value and a maturity of 18 years. The bonds have an annual coupon rate of 15.0% with quarterly coupon payments. The current market price for the bonds is $860. The bonds may be called in 6 years for 115.0% of par. What is the quoted annual yield-to-maturity for the bonds? 20.43% 4.39% 18.37% 17.58% 32.75% Question 20 (3.5 points) Again, Inc. bonds have a par value of $1,000, a 32 year maturity, and an annual coupon rate of 12.0% with annual coupon payments. The bonds are currently selling for $862. The bonds may be called in 6 years for 112.0% of par. What quoted annual rate of return do you expect to earn if you buy the bonds and company calls them when possible? 14.24% 13.96% 18.86% 17.16% 11.67%