Task 5: Bond Valuation GEM, Inc., has two bonds outstanding in the market. Both Bond X and Bond Y have 7 percent coupons, make semiannual payments, and are priced at par value. Bond X has 20 years to maturity, whereas Bond Y has five years to maturity. Bond X: Coupon rate Face value Coupons per year Years to maturity Current price 7.0% 100 2 20 100 Bond Y: Coupon rate Face value Coupons per year Years to maturity Current price 7.0% 100 2 5 100 Price of Bond X Price of Bond Y YTM 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10%