Solve the following time value of money questions related to Bond Valuation by using either formula or financial calculator. SHOW YOUR WORK. Otherwise, FULLY PENALIZED 1. Rita purchases a corporate bond on April 1" at $1,256. The most recent coupon payment was on Jan 1" and the next is expected to be on July 1". The yield to maturity is 5% and coupon rate is 6%, semi- annually paid. What is the CLEAN PRICE? 2. The JL Motors with 4.5 percent coupon rate has a face value of $1,000, a maturity of 7 years, semiannual interest payments, and a yield to maturity of 6.23 percent. What is the current market price of the bond? Bond Value = C) 4.5x - (14 312)7 .312 1000 = 164.706 (1+.3127